The job market entered the summer with less momentum than looked to be the case just a month ago. Why it matters: Call it a yellow card for the labor market. Thursday morning's employment report doesn't undo three months of stronger hiring, but it does warn that the rebound is less durable than first thought. - Hiring has remained concentrated in a handful of industries, leaving fewer opportunities for Americans looking to switch jobs or reenter the workforce. What they're saying: "June's jobs report put a damper on the fireworks, coming in well below expectations and pointing to a labor market that's more fizzle than sparkle," Glassdoor chief economist Daniel Zhao wrote Thursday morning. Driving the news: Payrolls rose by 57,000 in June…
New private sector data shows signs of life for a labor market that's stabilizing after a dismal year for hiring. Why it matters: It's a welcome development in an economy digesting global trade uncertainty, fast-moving AI technological advancements and a new geopolitical shock. - Yet just two sectors are carrying the entire labor market, making hiring more fragile than the headline numbers suggest. What they're saying: "In our data, job market growth is gaining traction. In employment terms, February's numbers show real forward momentum," David Tinsley, a senior economist at the Bank of America Institute, told reporters Wednesday morning. - In a separate call, ADP chief economist Nela Richardson said private sector job gains had been…
U.S. employers added a surprisingly strong 130,000 jobs last month, but government revisions cut 2024-2025 U.S. payrolls by hundreds of thousands of jobs.