00:00It's Benzinga bringing Wall Street to Main Street.
00:02The U.S. economy added 57,000 jobs in June, slowing from a downwardly revised 129,000 in May
00:11and missing the Dow Jones forecast of 115,000, according to CNBC. The unemployment rate fell
00:19to 4.2%, driven largely by a drop in labor force participation to 61.5%, the lowest level since
00:27March 2021. May and April job gains were revised lower, showing labor market growth was weaker
00:34than previously reported. Average hourly earnings rose 0.3% for the month and 3.5% from a year
00:41ago. Professional and business services led job gains in June with 36,000 new positions,
00:48while social assistance added 25,000. Healthcare rose by 22,000 at a slower-than-normal pace,
00:55and government employment increased by 8,000. Leisure and hospitality lost 61,000 jobs as seasonal
01:02hiring slowed, missing expectations that the World Cup could boost payrolls. Stock futures rose and
01:08treasury yields fell as traders eased expectations for a September rate hike. For all things money,
01:14visit Benzinga.com.
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