The June employment report disappointed, posting job gains of only 57,000, half of expectations of 115,000. In addition, the prior two months were revised down by a substantial -74,000 jobs, or -21%. The reports from March, April, and May had been strong, but job growth seems to be trailing off a bit now. Nonetheless, job growth has still been stronger in 2026 with a year-to-date average of 92,000 jobs per month, compared to 2025 which averaged only 10,000 jobs per month.
What Do Labor Market Measures Tell Us?
Dan North | July 2026
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