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December 11, 2017
Friday, July 6, 2012

US hiring stuck in low gear in June

US employers hired at a dismal pace in June, raising pressure on the Federal Reserve to do more to boost the economy and further imperiling President Barack Obama's chances of reelection in November.

The Labor Department said today non-farm payrolls expanded by just 80,000 jobs in June, falling short of forecasts though a tad higher than a revised May reading of 77,000.

Job creation during the month wasn't enough to bring down the country's lofty 8.2 percent unemployment rate. The report appeared sure to fuel concerns that Europe's debt crisis is shifting the US economy into low gear.

Job creation averaged 75,000 per month during the second quarter, compared with an average increase of 226,000 in the first quarter. Part of the slowdown could be because mild weather led companies to boost hiring in the winter at spring's expense.

 

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Tags:  US  employment  jobs  





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