Sophia Lewis with PSEG Long Island speaks to an attendee about employment opportunities at a job fair in New York.
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U.S. job growth slowed in June and Americans left the labor force in droves, tempering expectations for a September interest rate hike from the Federal Reserve.Nonfarm payrolls increased 223,000 last month, with construction employment unchanged and the mining sector purging more jobs, the Labor Department said Thursday.While the participation rate tumbled last month, there were improvements in other labor market measures that Fed officials are eyeing as they contemplate raising interest rates for the first time since 2006 .A broad measure of joblessness that includes people who want to work but have given up searching and those working part time because they cannot find full-time employment fell to 10.5 percent, the lowest since July 2008, from 10.8 percent in May.The sector shed 18,000 jobs in May.
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