The U.S. economy added 57,000 jobs in June, well below market expectations of 115,000, reported by the Bureau of Labor Statistics. According to the report, May payroll gains were also revised down to 129,000.
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The unemployment rate fell to 4.2%, but the decline was largely driven by a drop in labor force participation, which slipped to 61.5%. The figures point to slowing hiring as the labor market heads into summer.
Professional and business services led hiring with 36,000 new jobs, followed by social assistance and healthcare. Government payrolls also increased modestly.
Meanwhile, the leisure and hospitality sector lost 61,000 jobs, reflecting weaker-than-usual seasonal hiring. Average hourly earnings rose 0.3% from May and 3.5% year over year.
Related Tweet:
U.S. economy added 57,000 jobs in June, less than expected; unemployment rate at 4.2% https://t.co/wPAVNlUum0
— CNBC (@CNBC) July 2, 2026
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