U.S. payroll growth slowed sharply in June, with only 57,000 jobs added
This morning’s data could slow market expectations for a Fed rate hike as soon as this summer or early Fall.
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Summary
- U.S. job growth slowed sharply in June, with 57,000 jobs added versus expectations for 110,000 and well below May’s revised 129,000 gain.
- The unemployment rate edged down to 4.2%, slightly better than forecasts and May’s 4.3% reading.
- Weaker labor data could cool expectations for aggressive Federal Reserve rate hikes in 2026, contributing to a drop in bitcoin prices after the report.
