US Labor Market Registers Three Months of Contraction | Presented by CME Group

Labor Market Weakening - Non-farm payrolls increased by only 73,000, significantly below the expected 115,000 [1] - Prior months' job growth was revised down by 258,000 [1] - The unemployment rate rose to 42%, a 2% increase [2] - Labor force participation rate declined to 622%, the lowest since 2022 [2] - Long-term employment increased by 179,000, totaling 18% million [2] - The number of new entrants unable to find work increased by 275,000 [2] - U6 unemployment rate increased to 79% [2] Sector Performance - Healthcare added 55,000 jobs [3] - Federal government shed 12,000 jobs [3] Economic Outlook - Hiring confidence has decreased amid policy uncertainty [3] - The labor market's resilience may be weakening [3]