U.S. employers added 57,000 jobs in June, well below economists’ expectations, while the unemployment rate held relatively steady at 4.2%, according to new data released Thursday by the U.S. Bureau of Labor Statistics.
The June payroll increase fell short of forecasts that called for about 100,000 to 110,000 new jobs, signaling continued moderation in the labor market.
The Labor Department also revised hiring totals for the previous two months lower. April’s gain was reduced from 179,000 to 148,000 jobs, while May’s total was revised from 172,000 to 129,000, lowering combined employment by 74,000 jobs.
Hiring Concentrated In Several Sectors
Employment gains in June were led by professional and business services, which added 36,000 jobs. Social assistance employment increased by 25,000 positions, including 17,000 in individual and family services.
Health care also continued to add jobs, although at a slower pace than in recent months. The sector gained 22,000 positions in June, including 9,000 hospital jobs. Over the previous year, health care averaged monthly job gains of 38,000.
Manufacturing employment was little changed, adding 3,000 jobs during the month.
Leisure And Hospitality Posts Largest Decline
Leisure and hospitality lost 61,000 jobs in June as seasonal hiring came in weaker than usual, according to the Bureau of Labor Statistics. The industry has shown little overall employment growth so far this year.
Retail trade also declined, shedding approximately 7,500 jobs during the month.
Unemployment Rate Holds Steady
The unemployment rate edged down to 4.2% from 4.3% in May, while the total number of unemployed Americans remained largely unchanged at 7.1 million.
The labor force participation rate declined 0.3 percentage point to 61.5%, its lowest level in five years. The employment-population ratio also slipped to 59%.
The number of long-term unemployed — those out of work for 27 weeks or longer — held at about 1.9 million, accounting for 27.3% of all unemployed workers.
Wages Continue To Rise
Average hourly earnings for private-sector employees increased by 13 cents, or 0.3%, in June to $37.64. Over the past 12 months, wages have risen 3.5%.
The average workweek for private-sector employees remained unchanged at 34.3 hours.
