US economy adds jobs at slower pace with 57,000 jobs added in June, unemployment rate dips

Employers in the United States added jobs at a steady pace in June, with 57,000 jobs added, below economists' estimates of 110,000 jobs. The unemployment rate dipped to 4.2%, which was also below the estimate of 4.3%.

Revised April and May jobs report shows job losses in both months

Revisions were made to the payroll numbers for the prior two months, with April revised down by 31,000 from a gain of 179,000 to 148,000; while May's report was revised down from 43,000 from a gain of 172,000 to 129,000.

Taken together, employment in April and May was 74,000 jobs lower than previously reported.

Private payrolls down

Private payrolls added 49,000 jobs in June, well below the LSEG poll's prediction of 110,000 jobs. May's private sector job gains were also revised down from a gain of 120,000 to 97,000.

Leisure and hospitality industry up above average

Leisure and hospitality employers added 70,000 jobs in May. In the past 12 months, the average gain has only been 14,000. Food and drinking places added 48,000 jobs for the month.

Government employment increases

Government payrolls grew by 8,000 jobs last month, while the increase of 52,000 in May was revised down to 32,000 jobs.

Manufacturing sector employment sees gains

The manufacturing sector added 3,000 jobs in June, in line with the estimate of economists. May's figures were revised down from a gain of 7,000 jobs to a loss of 2,000.

Leisure and hospitality sees huge job losses

Restaurants, bars, and hotels cut 61,000 jobs, a sharp disappointment for those who expected the World Cup tournament that is taking place in multiple U.S. cities would lead to at least temporary job gains. Retailers also shed 7,500 jobs.

Health care up in June

Health care continued its upward trend, adding 22,000 jobs, but at a slower pace than the average monthly gain over the prior 12 months with 38,000 jobs. Hospitals added 9,000 jobs In June.

Economy