NEW YORK, July 5 (Reuters) - Benchmark 10-year Treasury yields slid Friday following closely-watched jobs data that appeared to show the U.S. labor market weakening.

Non-farm payrolls grew by 206,000 jobs in June, slightly higher than the 190,000 new jobs estimated by economists polled by Reuters. Estimated job growth for May, meanwhile, was revised down to 218,000 new jobs from 272,000, while April's job growth was revised down to 108,000 new jobs from a previous 165,000.

The unemployment rate rose to 4.1%, slightly higher than the estimated 4.0%.

The labor market has been a key focus for the Federal Reserve in its debate over when to begin cutting interest rates from nearly two-decade highs. The central bank has cited the resiliency of the jobs market as a potential catalyst for a possible resurgence in inflation.

The yield on the benchmark U.S. 10-year Treasury note fell 4.7 basis points to 4.3%. The yield on the 30-year bond fell 3.5 basis points to 4.485%.

The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, fell 4.8 basis points to 4.645%.

A closely watched part of the U.S. Treasury yield curve measuring the gap between yields on two- and 10-year Treasury notes, seen as an indicator of economic expectations, was at a negative 34.5 basis points. (Reporting by David Randall; Editing by Andrew Heavens)