Weak June Jobs Report 7/13/26

Summary

The June jobs report showed just 57,000 new jobs, half the expected number, with a sharp downward revision to May. Officials offered conflicting views: the White House called the economy strong, while J.P. Morgan highlighted a slow-growth 'tortoise economy' with demographic headwinds. Sector data revealed weakness in retail and leisure, while education and health care added jobs.

• June nonfarm payrolls rose only 57,000, well below expectations.
• May job gains were revised down by 50,000.
• White House NEC Director Hassett emphasizes upside surprises in prior months and a strong trend.
• J.P. Morgan's David Kelly sees a slow-growth economy with a shrinking working-age population.
• Private sector added just 39,000 jobs; retail lost 7,500.
• Leisure and hospitality plunged 61,000, missing a Goldman Sachs World Cup-related boost forecast.
• Education and health care was the main hiring sector.