America In Focus: consumers still gloomy about economy; US hiring falls in June

Key Points:

• Consumer confidence in the U.S. improved slightly in June with a 0.6 point rise to 91.2, but remains below last year's level and well under pre-pandemic highs, reflecting ongoing economic concerns amid inflation and geopolitical tensions.
• U.S. employers added only 57,000 jobs in June, less than half of May's total, indicating cautious hiring amid inflation at a three-year high and sluggish consumer confidence; the unemployment rate fell to 4.2%, partly due to discouraged workers leaving the labor force.
• Jobless claims declined modestly to 215,000 in the week ending June 27, remaining at historically low levels and signaling continued resilience in the labor market despite economic uncertainties.
• The average 30-year fixed mortgage rate dropped to 6.43%, the lowest in seven weeks, easing borrowing costs for homebuyers after months of elevated rates driven by inflation and geopolitical disruptions affecting oil prices.
• U.S. job openings stayed strong at 7.6 million in May, surpassing forecasts, but gross hiring declined slightly, suggesting employers are advertising positions without significantly increasing actual hiring amid economic caution.