Adds just 57K jobs in June, falling short of expectations

Adds just 57K jobs in June, falling short of expectations reflects a cooling U.S. labor market, according to data released Thursday by the Bureau of Labor Statistics. Employers added only 57,000 jobs in June, while the unemployment rate edged down to 4.2%. Economists had expected about 110,000 jobs and a stable jobless rate of 4.3%. The labor force participation rate fell by 0.3 percentage points, a move often linked to fewer jobseekers. BLS also revised down April and May gains by 74,000 jobs. The report was released shortly before the July 4 holiday weekend and adds to concerns about economic headwinds, including inflation that hit its highest annual rate in more than three years in May, driven largely by energy price shocks tied to the Iran war. Analysts said employers may still hire while finding it hard to locate workers, and that affordability pressures could hurt the roughly 7 million out of work.