June payrolls stall at 57k, sparking fresh Fed pause hopes
U.S. non‑farm payrolls rose only 57,000 in June, far below the 115,000 forecast and a sharp drop from May’s revised 129,000 gain. Unemployment edged down to 4.2% as labor‑force participation slipped, leaving the Fed with little pressure to hike rates further. The slowdown undercuts the narrative of a resurging labor market.