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June jobs report disappoints

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June jobs report disappoints

Job creation misses expectations; unemployment rate at 5.3%.

Total nonfarm payroll employment rose by 223,000 in June, and the unemployment rate decreased slightly to 5.3%, the U.S. Bureau of Labor Statistics reported today.

Consensus estimates had expected an increase of 240,000 new jobs.

The historically low employment participation rate decreased 0.3 percentage point to 62.3%.

Consensus estimates had expected an increase of 240,000 new jobs.

The number of unemployed persons declined 375,000, coming in at 8.3 million.

 In June, average hourly earnings for all employees on private nonfarm payrolls remained unchanged at $24.96. Over the year, average hourly earnings have risen by 2.0%.

The full report can be found here.

 

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