Dana24
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#NFPWatch American employers added 147,000 jobs in June, as the country's labor market continues to show surprising resilience despite uncertainty over President Donald Trump's economic policies. The unemployment rate fell to 4.1% from 4.2% in May, the Labor Department reported on Thursday.
Hiring increased modestly compared to a revised figure of 144,000 in May and exceeded economists' expectations of fewer than 118,000 new jobs and an increase in the unemployment rate.
The U.S. labor market has cooled considerably since the boom days of 2021 to 2023, when the economy rebounded with unexpected strength from COVID-19 lockdowns and businesses desperately needed workers. So far this year, employers have added an average of 130,000 jobs per month, down from 168,000 in 2024, and an average of 400,000 from 2021 to 2023.
And, according to data released on Thursday, for someone who loses their job, it is becoming increasingly difficult to find a new one.
But the June figures were surprisingly strong. Jobs in the healthcare sector increased by 39,000. State governments added 47,000 workers and local governments added 33,000. However, the federal government lost 7,000, likely reflecting Trump's hiring freeze. Manufacturers cut 7,000 jobs. Now, employers are dealing with the consequences of Trump's policies, especially his aggressive use of import taxes, namely his tariffs.
Hiring increased modestly compared to a revised figure of 144,000 in May and exceeded economists' expectations of fewer than 118,000 new jobs and an increase in the unemployment rate.
The U.S. labor market has cooled considerably since the boom days of 2021 to 2023, when the economy rebounded with unexpected strength from COVID-19 lockdowns and businesses desperately needed workers. So far this year, employers have added an average of 130,000 jobs per month, down from 168,000 in 2024, and an average of 400,000 from 2021 to 2023.
And, according to data released on Thursday, for someone who loses their job, it is becoming increasingly difficult to find a new one.
But the June figures were surprisingly strong. Jobs in the healthcare sector increased by 39,000. State governments added 47,000 workers and local governments added 33,000. However, the federal government lost 7,000, likely reflecting Trump's hiring freeze. Manufacturers cut 7,000 jobs. Now, employers are dealing with the consequences of Trump's policies, especially his aggressive use of import taxes, namely his tariffs.
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