US Job Growth Slows Sharply in June, Unemployment Rate Drops to 4.2%

Published: Jul 4, 2026 17:57

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Data released by the US Bureau of Labor Statistics showed that US nonfarm payrolls added just 57,000 jobs in June, a figure far below market expectations of 110,000 and the lowest level in nearly four months. Meanwhile, employment data for April and May were cumulatively revised down by 74,000. On the unemployment rate front, the June reading unexpectedly fell to 4.2%, the lowest level since June 2025, compared with market expectations of 4.3%. Following the data release, traders broadly pushed back their expectations for the US Fed’s rate hike plan to December of this year.

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