Analysts Challenge U.S. June Jobs Report Over 61,000 Leisure Loss

2 articles · Updated · Fortune · Jul 3

A reported 61,000 drop in U.S. leisure and hospitality jobs in June has led economists to question the credibility of the broader payroll report, which showed only 57,000 jobs added.
World Cup demand is the main reason for the skepticism: Pimco and RSM said the sector should have benefited from hiring, while Bank of America card data showed spending up 5.4% and non-local spending up 17.4%.
Several analysts said the June figures likely reflect survey noise and seasonal-adjustment distortions rather than a real collapse, with some expecting upward revisions when July data is released.
The dispute underscores a broader point about initial BLS payroll data: revisions are routine, and economists such as UBS's Paul Donovan said a single release should not outweigh the underlying trend of cautious hiring and limited layoffs.