Weak private hiring in June shows tepid U.S. recovery

U.S. private payrolls rose only modestly in June and overall employment fell for the first time this year as thousands of temporary census jobs ended, indicating the economic recovery is failing to pick up steam.

The employment figures from the U.S. Labor Department on Friday followed a raft of weak reports this week on consumer spending, housing and factory activity that have heightened fears the economy could slip back into a recession.

But even though private-sector hiring in June was well below levels needed to bring down unemployment on a sustained basis, analysts said the figures were not consistent with an economy on the brink of another recession.

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- Posted: 2010-07-02 20:50:50

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