US Economy adds only 57,000 jobs in June

The US economy added 57,000 jobs in June, well below forecasts, signaling a slowdown in hiring despite a slight decline in the unemployment rate, according to data released by the Bureau of Labor Statistics (BLS).

The report was released a day earlier than usual, as the regular first-Friday publication was brought forward to Thursday due to the Independence Day holiday.

The professional and business services sector led job gains with 36,000 new positions, followed by healthcare, which added around 22,000 jobs.

BLS revised payroll growth lower for the previous two months, cutting April's figure by 31,000 jobs to 148,000 and May's by 43,000 to 129,000.

Meanwhile, the US unemployment rate edged down to 4.2% in June from 4.3% in May, largely reflecting a 0.3% decline in the labor force participation rate to 61.5%.