Hiring in June remained steady, even as it ended a three-month streak of job gains over 100,000 – but a steady labor market could add even more fuel to the Federal Reserve’s argument for raising interest rates.
US employers added 57,000 jobs in June – below estimates of 115,000, the Bureau of Labor Statistics said Thursday.
But the unemployment rate eased to 4.2%, down slightly from 4.3% the previous month – signaling the labor market remains on steady footing even as the pace of hiring slowed.
Payrolls in April and May were also revised down by a combined 74,000.