U.S. Adds 206,000 jobs in June, Unemployment Ticks Up to 4.1%
Summary from the AllSides News Team
The U.S. economy gained 206,000 jobs in June as the unemployment rate rose slightly, the Bureau of Labor Statistics (BLS) reported.
The Details: The unemployment rate rose to 4.1% in June, up from 4.0% in May; some reports highlighted that this was the first time unemployment rose above 4% since 2021. While BLS previously reported 272,000 jobs gained in May, it revised that figure down to 218,000.
For Context: A slowing job market could impact the Federal Reserve's interest rate decisions; the Fed recently signaled it would cut rates one time this year.
How the Media Covered It: Coverage varied across the spectrum in framing jobs growth as strong, weak, or mixed. For instance, while The Wall Street Journal (Center bias) reported that “the U.S. added a solid 206,000 jobs” and “hiring stays strong” despite “slack in what has been strong labor market,” Bloomberg (Lean Left bias) reported that “US hiring and wage growth stepped down” after “steep downward revisions.” Meanwhile, Fox Business (Lean Right bias) titled one of its graphs, “Tracking job growth under Biden,” suggesting that the goal of the visualization was not simply to understand the economy but to scrutinize a Democrat.
Why the Difference: While news about employment data is relevant to most readers — because they need jobs to live — business reporters have another audience: investors, financiers, and anyone looking to take out a major loan. This audience might view slower job growth positively, because it could persuade the Fed to cut interest rates and make borrowing cheaper.
Featured Coverage of this Story
From the Center
U.S. Added 206,000 Jobs in June as Hiring Stays StrongThe Labor Department reported on Friday that the U.S. added a solid 206,000 jobs last month, slightly beating expectations and continuing a remarkably strong run. But the unemployment rate ticked up to 4.1%, a sign of slack in a labor market that has already shown some hints of gradually slowing down.
There were other indications as well that the job market is continuing to cool. Average hourly earnings were up 3.9% in June from a year earlier, marking their smallest gain since 2021. The counts for both April and May were revised...
From the Left
US Payroll Growth Slows and Jobless Rate Ticks Up to 4.1%US hiring and wage growth stepped down in June while the jobless rate rose to the highest since late 2021, bolstering prospects that the Federal Reserve will begin cutting interest rates in coming months.
Nonfarm payrolls rose by 206,000 and job growth in the prior two months was revised down by 111,000, the Bureau of Labor Statistics said Friday. The median forecast in a Bloomberg survey of economists called for a 190,000 increase.
From the Right
U.S. economy adds 206,000 jobs; April, May revised downU.S. employers added 206,000 jobs in June, more than expected and slightly below the revised 218,000 added in May, a sign the labor market remains solid. The unemployment rate ticked up slightly to 4.1% vs. 4%.
This as both April and May data points were adjusted lower by a combined 111,000, signaling fewer jobs created. This may please the Federal Reserve, which is looking for signs inflation is easing.
U.S. stocks rose following the report.
Average hourly earnings, another inflation tracker, rose 3.9% year-over-year, in-line with estimates and the smallest increase in...
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