The US economy added just 57,000 jobs in June, according to the latest employment report, with a shock loss of 61,000 hospitality jobs nationwide that has handed Donald Trump an awkward economic setback months before the World Cup and the America 250 celebrations are meant to turbocharge hiring.
Hiring in the US had been expected to remain relatively solid as inflation cooled and major global sporting events loomed. Analysts at FactSet forecast around 100,000 new jobs last month, while Goldman Sachs suggested the World Cup alone might swell payrolls by 40,000 positions. Instead, the headline jobs figure came in barely above half the prediction, and the hospitality sector, which should be gearing up for a tourism boom, went into reverse.
