Jobs Report: U.S. Payrolls Climb by 223,000, Missing Estimates For 233,000

Unemployment rate falls to 5.3% but pockets of softness lurk

WASHINGTON—U.S. employers steadily added jobs in June, but wages were flat and the participation rate fell, suggesting pockets of weakness remain in the labor market. Nonfarm payrolls rose a seasonally adjusted 223,000 in June, the Labor Department said Thursday. But revisions to the prior months showed weaker job creation this spring than initially estimated. Employers added 254,000 jobs in May, down from an initially reported 280,000. April’s gain was revised to 187,000 from a previously reported 221,000. The unemployment rate, which is obtained from a separate survey of U.S. households, fell to 5.3% in June, compared to 5.5% the prior month. The rate is the lowest since April 2008, but reflects fewer Americans were looking for jobs. Economists surveyed by The Wall Street Journal had predicted payrolls would rise by 233,000 in June and the unemployment rate would fall to 5.4%. Read More Here: Source: http://www.wsj.com/articles/jobs-report-u-s-payrolls-climb-by-223-000-1435840430