NEW: June Jobs Report: 206K Added, Jobless Rate 4.1%

Total nonfarm payroll employment increased by 206,000 in June, and the unemployment rate changed little at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in government, health care, social assistance, and construction. ...

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The change in total nonfarm payroll employment for April was revised down by 57,000, from +165,000 to +108,000, and the change for May was revised down by 54,000, from +272,000 to +218,000. With these revisions, employment in April and May combined is 111,000 lower than previously reported. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.)

Ed Morrissey

Emphasis mine. Job creation has begun to slow down significantly, which is good news on one hand and not so good on the other. The Federal Reserve may feel more comfortable with a slight decrease in the prime lending rate after reading this report, so it's possible that we could get a boost soon from those seeking to invest or purchase homes. 

On the other hand, not only is this number no better than a maintenance level, the new hiring is mainly coming from government, health care, and social services (with some obvious overlap in those categories). The private-sector economy appears to be stagnating just as the election rolls around. 

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