BREAKING NEWS

US hiring stuck in low gear in June

By REUTERS

JULY 6, 2012 16:25

WASHINGTON - US employers hired at a dismal pace in June, raising pressure on the Federal Reserve to do more to boost the economy and further imperiling President Barack Obama's chances of reelection in November.

The Labor Department said on Friday non-farm payrolls expanded by just 80,000 jobs in June, falling short of forecasts though a tad higher than a revised May reading of 77,000.

Job creation during the month wasn't enough to bring down the country's lofty 8.2 percent unemployment rate. The report appeared sure to fuel concerns that Europe's debt crisis is shifting the US economy into low gear.

"We're just crawling forward here," said Nigel Gault, an economist at IHS Global Insight in Lexington, Massachusetts.

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