(AURN News) — New figures from the Bureau of Labor Statistics show the U.S. economy added just 57,000 jobs in June, less than half of the 115,000 economists expected. April and May payroll gains also were revised downward.
Combined, the government revised payroll gains downward by 74,000 jobs. The revisions come after months of the administration touting the strength of the economy, with President Donald Trump posting on Truth Social after previous strong reports that growth does not mean inflation and that stocks should go up, not down.
That messaging becomes more difficult with a miss of this size. The unemployment rate dipped to 4.2%, but economists say that is happening because more people are leaving the workforce, not because hiring is surging.
Black unemployment remained high at 6.6%.
Click play to listen to the report from AURN White House Correspondent Ebony McMorris. For more news, follow @E_N_McMorris & @aurnonline.
