The U.S. economy saw job creation cool sharply heading into the summer, the Bureau of Labor Statistics reported Thursday.Nonfarm payrolls for June increased by a seasonally adjusted 57,000 for the month, slower than the downwardly revised 129,000 added in May and worse than the 115,000 Dow Jones consensus forecast.The unemployment rate, however, dropped to 4.2%, and slightly ahead of the 4.1% where it was a year ago. The move lower was largely due to a slump in the labor force participation rate, which dropped 0.3 percentage point to 61.5%.This is breaking news. Please refresh for updates.
U.S. economy added 57,000 jobs in June, less than expected; unemployment rate at 4.2%
Nonfarm payrolls were expected to rise by 115,000 in June while the unemployment rate held steady at 4.3%, according to the Dow Jones consensus.
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