Summary
U.S. employers added 147,000 jobs in June, showing a stronger labor market than expected. The unemployment rate dropped slightly to 4.1% from 4.2% in May, while average hourly wages increased slightly from the previous month and year.
Key Facts
- Employers in the U.S. added 147,000 jobs in June.
- The unemployment rate went down from 4.2% in May to 4.1% in June.
- In June, state governments hired 47,000 workers, and healthcare companies hired 39,000 workers.
- Manufacturing jobs decreased by 7,000 in June.
- Average hourly wages increased by 0.2% from May and by 3.7% compared to the previous year.
- The Labor Department revised the job numbers for April and June, adding 16,000 more jobs than initially reported.
- The Federal Reserve has raised interest rates 11 times in recent years, slowing down hiring but not stopping it.
- Tariffs set by President Trump have caused uncertainty for businesses, affecting decisions in manufacturing companies.
