Payrolls Decline 62,000; Jobless Rate Flat at 5.5%

WASHINGTON — The U.S. June employment report was almost as expected, consistent with continuing economic weakness.

An accompanying statement said the latest employment report shows “labor market weakness persisted,” with payrolls declining 62,000, the unemployment rate unchanged at a high 5.5% in June, and with few quirks as explanations. Moreover, the Labor Department said the Midwest floods had “no discernable impact” on the employment surveys.

— Market News International

 

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