US job growth stalls while consumer confidence improves

Economic data released in June showed the United States added just 57,000 jobs, far below the previous month’s pace, and the unemployment rate slipped to 4.2% as workers left the labour force. The Conference Board’s consumer confidence index rose modestly to 91.2, still below the year‑ago level of 95.2, while gas prices fell and mortgage rates eased to 6.43%.

In July, the Bureau of Labor Statistics reported a loss of 23,000 jobs, revising earlier months down by 103,000, and the unemployment rate edged to 4.1%. Hourly earnings grew only 0.1%, lagging inflation. Despite the job decline, the University of Michigan’s consumer sentiment index jumped to 55.2, its highest since June. Analysts linked the mixed picture to higher energy prices amid the ongoing Iran conflict and a cautious corporate hiring outlook.

Overall, the labour market appears to be weakening even as consumer sentiment shows modest improvement, highlighting divergent trends in the US economy.