Very Scary Employment Numbers Just Released—Hold on Folks, It’s Gonna Get Ugly (er)

For the second consecutive month, employers added scarcely any jobs in June, startling evidence that the economic recovery is stumbling. All levels of government shed workers, and hiring by companies continued to slow, resulting in a meager 18,000 new nonfarm payroll jobs last month, the Labor Department reported on Friday. The government also revised downward the small gain for the previous month to 25,000 new jobs, less than half the original estimate.

NEW YORK TIMES