The United States created half as many jobs as expected in June, and even destroyed some in the hotel and restaurant sector despite the Football World Cup which is being played largely on American soil.
According to official statistics released on Thursday, 57,000 jobs were created last month. Investors were expecting around 110,000.
The surprise came from the leisure and hotel and catering sectors which destroyed 61,000 jobs over the period. In contrast to the boost that was envisaged as the country hosts numerous World Cup 2026 matches.
The first match was held on June 13 in Los Angeles.
The official statistical service emphasizes that hiring is “lower” than usual this season.
Another important downside: net job creations for the months of April and May were significantly revised downwards.
However, the unemployment rate fell slightly, from 4.3% to 4.2%.
Economists point out that this is largely explained by the fact that the active population is less and less supplied: there is not more work, but fewer people looking for it.
Fewer assets
More than 700,000 people disappeared from the workforce in one month.
This is a “shocking” figure, according to Navy Federal Credit Union bank economist Heather Long, for whom it reflects a form of “abandonment” of the search for work in the face of “lack of opportunities.”
More than seven million Americans are unemployed, including nearly two million long-term unemployed.
An awakening of the labor market seemed to be beginning recently, although it had gone into hibernation last year, especially since President Donald Trump implemented a wave of new customs duties.
Experts still largely see the situation as being in “no hire, no fire” or “low hire, low fire” mode.
Disruptions related to artificial intelligence (AI) are creating an additional layer of uncertainty by questioning what jobs and skills will be needed in the future.
“While fears of widespread job losses [à cause de l’IA] have intensified, its adoption is proving more gradual and more costly than many had anticipated,” noted Gregory Daco, economist at EY, this week.
“Companies are increasingly using AI to improve productivity and control labor costs, but so far this technology appears to enhance selectivity in hiring rather than triggering large-scale layoffs,” he added.
