U.S. economy adds 57,000 jobs in June as the unemployment rate dips to 4.2%

The U.S. economy added only 57,000 jobs in June, significantly missing expectations. While the unemployment rate remains relatively low at 4.2%, downward revisions to previous months and a low labor force participation rate suggest a cooling market. Meanwhile, inflation continues to outpace wage growth, putting pressure on consumer purchasing power and influencing Federal Reserve policy.