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NewsNBC 6 South FloridaJuly 2, 2026Miami-Dade

U.S. Job Growth Slows as Employers Remain Cautious

U.S. employers added 57,000 jobs last month, a significant slowdown from previous months, as businesses navigate high inflation and economic uncertainty. While the unemployment rate dipped to 4.2%, this was largely driven by people leaving the workforce rather than new hiring.

economyemploymentinflationlabor marketfederal reserve
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Why It Matters

The slowdown in hiring and revised job figures indicate a cooling labor market that affects job seekers' ability to find work and influences Federal Reserve decisions on interest rates.

Key Facts

  • U.S. employers added 57,000 jobs last month.
  • The unemployment rate declined to 4.2% from 4.3% in May.
  • May job gains were revised downward to 129,000 from 172,000.
  • April job gains were revised downward to 148,000 from 179,000.
  • Restaurants, bars, and hotels cut 61,000 jobs.
  • Retailers cut 7,500 jobs.
  • Professional and business services added 36,000 jobs.
  • Healthcare added nearly 47,000 jobs.
  • The economy expanded at a 2.1% annual pace in the first quarter.
  • The Federal Reserve's key interest rate is currently at approximately 3.6%.

Who's Mentioned

personNicole Bachaud“Labor economist at ZipRecruiter.”personChad Moutray“Chief economist at the National Restaurant Association.”organizationLabor Department“Released the monthly employment figures.”personKevin Warsh“Federal Reserve Chair who discussed inflation targets.”