US hiring cools as labor participation hits five-year low

WASHINGTON D.C.: U.S. job growth slowed sharply in June while the labor force participation rate fell to its lowest level in more than five years, pointing to a cooling labor market and reinforcing expectations that the Federal Reserve will keep a close watch on incoming economic data.

The Labor Department said nonfarm payrolls increased by 57,000 jobs last month, well below economists' expectations of 110,000.

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