Weak U.S. Jobs Report Raises Fresh Questions About Economic Momentum

Fox Business reacted to a weaker-than-expected US employment report after June job growth fell well below economists' forecasts, Matthew Chapman reported for Raw Story.

A weaker-than-expected US jobs report showed slower hiring and declining employment in the leisure and hospitality sector.

Fox Business host Cheryl Casone noted that the economy added 50,000 nonfarm jobs, compared with Wall Street expectations of 110,000.

She also reported that the unemployment rate edged down to 4.2 percent from 4.3 percent, while the broader underemployment rate stood at 7.9 percent. In addition, payroll estimates for earlier months were revised downward by more than 70,000 jobs.

Healthcare and social assistance added jobs during the month, while employment in the leisure and hospitality sector declined.

Although host Maria Bartiromo suggested the stock market's positive reaction could indicate a "Goldilocks" scenario, economist and former Trump adviser Stephen Moore expressed concern.

"If you look at the household survey, it showed half a million fewer Americans working. So, I'm a little puzzled by this," Moore said.