As most people view gainful employment as a key aspect of their personal development, the latest Labor Department report will likely be a major disappointment to the millions of unemployed Americans.
According to the report, U.S. employers added only 18,000 nonfarm payrolls in June, a very weak number considering most economists had predicted at least 70,000. Additionally, the ADP report, which is often cited as a bellwether for the Labor Department figures, projected 157,000 new jobs were added in June.
According to the Bureau of Labor Statistics, the unemployment rate also increased from 9.1 percent to 9.2 percent last month, which is its highest number thus far this year. That figure had dropped to 8.8 percent in March, but has climbed every month since then.
In addition to the weak job report, temporary hiring fell for the third consecutive month in June, according to Reuters. Average hourly earnings also dropped by 1 cent, the first time it had dropped since November, the news source said.