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Check Out Line: June jobs data disappoint

July 2, 2010

USA/Check out the latest batch of grim data about the U.S. job market.

U.S. employment fell for the first time this year in June, renewing concerns about the strength of the U.S. economic recovery.

Weaker-than-expected private hiring and the end of thousands of temporary census jobs translated into a decline of 125,000 nonfarm payrolls, their largest fall since last October.

Analysts polled by Reuters had expected employment to fall 110,000 last month.

Private employment, often regarded as a better gauge of labor market health, rose only 83,000 in June, below market expectations for a 112,000 gain.

Retailers, wrestling with high labor costs and cautious American consumers, also seem to be playing safe while seeking new employees. Retail hiring fell 6,600 in June.

Also in the basket:
Blockbuster wins debt reprieve, forced to delist

Staples buys Finnish office supply company

Reuters Photo

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