US adds only 57,000 jobs in June, far below 115,000 forecast

What was said

"We learned that the US added just 57,000 jobs per the latest jobs report, far below the 115,000 jobs economists expected. While April and May job totals were revised downward significantly, the labor market also showed deeper signs of weakness, with 720,000 people leaving the labor force, 507,000 fewer people employed, and the employment-to-population ratio falling to 59%, its lowest level in about 5 years."

The June jobs report revealed the US economy added only 57,000 jobs, missing economist expectations by over 50%. The report also included downward revisions for April and May, with 720,000 people leaving the labor force and the employment-to-population ratio falling to its lowest level in approximately five years. Inflation at 4% continues to outpace wage growth of 3.5%, with 61,000 hospitality jobs lost amid tourism boycotts related to trade policies.