#NFPWatch June 2025 Nonfarm Payrolls (released July 3)
+147K jobs vs. +110K expected — a solid beat reddit.com+8reddit.com+8reddit.com+8reddit.com+15politico.com+15investing.com+15
Unemployment rate dropped to 4.1% (from 4.2%) reddit.com+15politico.com+15reuters.com+15
Wage growth slowed: +0.2% MoM (+3.7% YoY is below forecasts) barrons.com+2investing.com+2cambridgecurrencies.com+2
Biggest gains in government, education & healthcare, while private‑sector hiring remained soft reddit.com+11reuters.com+11nypost.com+11
🔍 Key Market Takeaways
Fed rate cut in July is now highly unlikely — markets see first cut pushed to September cnbc.com+6politico.com+6nypost.com+6
Dollar and Treasury yields jumped, equities edged higher reuters.com+3investors.com+3fxview.com+3
💡 Bottom line:
The job market’s still firm but showing signs of cooling in wages and private hiring. That’s likely to keep Fed on hold for now and delay rate cuts until later this year.