Jobs
The US Labor Market Is Starting to Show Cracks. Here Are the Signs
- US added fewest jobs since 2020, prior two months revised down
- Broad underemployment and Black joblessness are on the rise
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A look beneath solid headline jobs numbers shows some cracks are starting to form in the US labor market. Here are the signs:
Employers added 209,000 payrolls in June — the smallest monthly increase since the end of 2020 — and downward revisions to the prior two months showed hiring slowing more than previously thought. In August, the Bureau of Labor Statistics will publish preliminary annual revisions to payroll numbers, which could show further softening for the first few months of the year.