U.S. employers added 57,000 jobs in June, a pace that marks a slowdown from the previous three months but indicates a persistently healthy labor market. The figures, released Thursday by the Bureau of Labor Statistics, were below economists' forecasts of 115,000 new jobs.
Despite the lower-than-expected job creation, the unemployment rate saw a slight decrease, falling to 4.2% from 4.3% in May. This suggests that the labor market remains on firm footing.
Previous job growth figures for April and May were also revised downward, with a combined reduction of 74,000 payroll positions. The June numbers, while indicating a slower hiring pace, are likely sufficient to temper expectations for imminent interest rate cuts by the Federal Reserve. The continued strength in the labor market provides the central bank with justification for maintaining its current monetary policy stance.