US Job Growth Moderates in June as Unemployment Rate Remains Steady

The US labor market saw a slower expansion in June, with 57,000 nonfarm jobs added, aligning with the average monthly gains over the past year. The national unemployment rate held firm at 4.2 percent. While some sectors like professional services and healthcare grew, leisure and hospitality experienced job losses, and average hourly earnings increased by 0.3 percent for the month.