Labor Market Runs in Place; More Jobs, Participation Lowest Since 1977
U.S. Payrolls Rise 223K, Jobless Rate Falls to 5.3%
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The U.S. labor market took one step forward and one back in June as job creation advanced while wages stagnated and the size of the labor force receded.
The addition of 223,000 jobs followed a 254,000 increase in the prior month that was less than previously estimated, a Labor Department report showed Thursday in Washington. The jobless rate fell to a seven-year low of 5.3 percent as people left the workforce.