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US employers pull back on hiring in June amid elevated inflation, global turmoil
US employers added 57,000 jobs in June, a significant drop from previous months, with the unemployment rate falling to 4.2% due to people leaving the labor force. Hiring in sectors like restaurants, bars, and hotels declined amid inflation and consumer spending shifts, while healthcare added nearly 47,000 jobs. A 'K-shaped' economy, where wealthier households outpace others, and AI implementation concerns may be influencing hiring decisions.
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- US hiring falls to just 57,000 in June as employers pull back amid elevated inflation, global turmoil
- Economy disappoints with half as many jobs created in June, and May and April gains revised downward
- US employers added just 57,000 new jobs in June, lower than expected
- Ohio lost jobs in May, and had 58,000 fewer in the workforce than last year
- US economy adds jobs at slower pace with 57,000 jobs added in June, unemployment rate dips