US Economy Adds Disappointing 57k Jobs in June

The US economy saw its nonfarm payroll jobs grow by only 57,000 in June, falling short of economists' expectations of 83,000. This disappointing figure comes after previous reports for April and May were revised downward.

Despite the sluggish job growth, the labor market remains supported by record-low layoffs rather than active hiring. However, recruitment is being suppressed due to consecutive headwinds such as last year's tariffs and the recent war.

The second-quarter payroll gains averaged 111,000 per month, significantly higher than the 34,000 average in the same period last year. Meanwhile, the labor force has declined in four of the last six months, attributed to a tough immigration crackdown.