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Tribune News Service
Tribune News Service
Business
Mitchell Schnurman

June’s economy dichotomy: US adds 372,000 jobs while employers announce 32,000 layoffs

United States Economy Andrew Challenger Lydia Boussour Pandemic Challenger Gray Christmas DFW Meta

Is the hot labor market strengthening or weakening? Or doing both at the same time?

The U.S. added 372,000 jobs in June while the unemployment rate remained at a low 3.6% for the fourth month in a row, the U.S. Bureau of Labor Statistics reported Friday. The strong employment growth surpassed many economists’ forecasts and indicated that demand for workers remains high.

But cracks are emerging in select spots. U.S. companies announced over 32,000 layoffs in June, a sharp increase from May and the highest monthly total since February 2021, according to global placement firm Challenger, Gray & Christmas. The deepest cuts were in the automotive sector, followed by entertainment-leisure and real estate.

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