US Payroll Growth Slows to 110,000; Markets Shut Early for July 4

US employers added 110,000 jobs in June, undershooting recent trends and lifting the unemployment rate to 4.3%, according to Labor Department figures published Thursday. The moderation in hiring precedes the Independence Day holiday and follows an uptick in weekly claims, with 241,000 Americans filing for unemployment benefits in the week ended 28 June and 1.962 million continuing claims. Additional data painted a mixed picture. The May trade deficit widened to $71 billion, while factory orders surged 8.2%—their strongest monthly gain in more than a year. In services, S&P Global’s final June PMI came in at 53.1 and the Institute for Supply Management’s gauge registered 50.6, signaling continued but slower expansion in the sector. US equity exchanges will close at 1 p.m. Eastern Time and the Treasury market at 2 p.m. on Thursday ahead of the 4 July holiday, curtailing trading hours for investors digesting the data. Markets will remain shut on Friday.