Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

U.S. payrolls climbed by 209,000 in June, less than expected

by July 11, 2023
July 11, 2023
U.S. payrolls climbed by 209,000 in June, less than expected

Employment growth eased in June, taking some steam out of what had been a stunningly strong labor market.

Nonfarm payrolls increased 209,000 in June and the unemployment rate was 3.6%, the Labor Department reported Friday. That compared to the Dow Jones consensus estimates for growth of 240,000 and a jobless level of 3.6%.

The total, while still solid from a historical perspective, marked a considerable drop from May’s downwardly revised total of 306,000 and was the slowest month for job creation since payrolls fell by 268,000 in December 2020.

Closely watched wages numbers were slightly stronger than expected. Average hourly earnings increased by 0.4% for the month and 4.4% from a year ago.

Job growth would have been even lighter without a boost in government jobs, which increased by 60,000, almost all of which came from the state and local levels.

Other sectors showing strong gains were health care (41,000), social assistance (24,000) and construction (23,000).

Leisure and hospitality, which had been the strongest job-growth engine over the past three years, added just 21,000 jobs for the month. The sector has cooled off considerably, showing only muted gains for the past three months.

The retail sector lost 11,000 jobs in June while transportation and warehousing saw a decline of 7,000.

More from CNBC

EV sales: Hyundai overtakes GM, but Tesla’s U.S. dominance continues U.S. Treasury Secretary Janet Yellen meets Chinese Premier Li Qiang Twitter accuses Meta of stealing trade secrets for its new Threads app

This post appeared first on NBC NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Trump slams Iowa’s Republican governor for staying neutral in 2024 presidential nomination race
next post
Trump attorneys worry jurors won’t be fair due to 2024 election bid, request judge push classified docs case

Related Posts

Why are frozen vegetable prices so high? Blame...

July 22, 2023

GameStop, MicroStrategy shares rise after Ryan Cohen posts...

February 11, 2025

Inflation expected to worsen in August because of...

September 13, 2023

U.S. gas prices hit 8-month high

July 28, 2023

Dollar General is shaking off tariff fears and...

June 4, 2025

Target launches paid membership program as it chases...

March 7, 2024

Retirees ‘stunned’ as market turmoil over tariffs shrinks...

April 6, 2025

McDonald’s announces plan to hire 375,000 employees this...

May 14, 2025

Small businesses are still hungry to hire, but...

April 8, 2024

Some tariff concessions from Canada and Mexico touted...

February 7, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

    • Bold Ventures Provides Recent News at Koper Lake in the Ring of Fire and Burchell Gold and Copper Project

    • Surface Metals Inc. Provides Corporate Update: Gold’s 2025 Rally Amplifies Cimarron Gold Project Potential and Strengthens Strategic Position

    • TSX-V Exchange Approves Shares For Debt Transactions

    • Forte Minerals Attends the New Orleans Investment Conference

    • Gold Price Consolidates Just Under US$4,000 as Fed Cuts Rates

    Categories

    • Business (1,406)
    • Investing (3,092)
    • Politics (3,699)
    • Stocks (1,835)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved