Cautionary Signals Emerge in Latest US Jobs Report

An assortment of cautionary signals emerged in the latest US jobs report, including weak and concentrated hiring in the private sector as well as a dip in hours worked that underscore a fragile job market.

The addition of 147,000 jobs in June exceeded all but one estimate in a Bloomberg survey of economists. But the increase in employment was largely owed to a jump in state and local government education payrolls that a number of economists described as suspect.