WASHINGTON — U.S. employers added 115,000 jobs in June, the Labor Department reported Thursday, as the labor market showed signs of cooling from May's stronger pace of hiring.
The Bureau of Labor Statistics said the unemployment rate held steady at 4.3 percent, matching the level recorded in each of the previous several months, according to the agency's Employment Situation report released at 8:30 a.m. Eastern Time.
The June payroll gain marked a slowdown from May, when the economy added a revised 172,000 jobs, the BLS said. Economists surveyed by Bloomberg had projected payrolls would rise by 115,000 for the month, with the jobless rate unchanged at 4.3 percent.
The report followed a weaker-than-expected private payrolls reading from ADP on Wednesday, which showed private employers added 98,000 jobs in June, below the Dow Jones consensus forecast of 110,000 and down from an unrevised 122,000 in May. ADP said nearly half of June's private-sector job growth came from the education and health services sector.
The BLS report is closely watched by the Federal Reserve, which is weighing the trajectory of interest rates ahead of its July 29 policy meeting. Federal Reserve Chair Kevin Warsh said at his first press conference on June 17 that labor market data had "been moving in a good direction."
Detailed sector-by-sector breakdowns, including industries driving June's job gains and average hourly earnings figures, were included in the full BLS release. Reuters is reviewing the complete report for additional detail.
This is a developing story. Further details will be reported as they are confirmed.
