THE LEVANT NEWS — U.S Job growth slowed in June 2015, and the number of Americans who left the active population was huge, according to a government report on Thursday, which would highly affect the expectations on September 2015, for a high rate hike from the Federal Reserve.
Referring to the Labor of Department, the nonfarm payrolls have increased to 223.000 last month. Adding to the report’s soft note, April and May data was revised to show 60,000 fewer jobs were added than previously reported.
On the other hand, as 432,000 people left the labor force, the unemployment rate fell two-tenths of a percentage point to 5.3 percent, which is the lowest since April 2008.
The labor force participation rate, or the share of working-age Americans who are employed or at least looking for a job, decreased to 62.6 percent, the weakest since October 1977. In addition, the participation rate had touched a four month high of 62.9 percent in May.
Not to forget to mention that, the average earning per hour was left unchanged, taking the year-on-year increase to a tepid 2.0 percent.