Golden Age: U.S Economy Adds 147,000 Jobs, Much Higher Than Expected,

[mystery-ak]

Golden Age: U.S Economy Adds 147,000 Jobs, Much Higher Than Expected,

John Carney 3 Jul 2025

Employers in the United States added 147,000 workers to their payrolls in June, the Department of Labor said Thursday, and the unemployment rate declined to 4.1 percent,  defying predictions of labor market sluggishness following the implementation of President Trump’s tariffs.

Economists had been expecting 110,000 jobs and an unemployment rate ticking up to 4.3 percent.

The April jobs report was revised up by 11,000, from a gain of 147,000 to 158,000. May was revised up by 5,000 to 144,000. Combined, the revisions added 16,000 jobs to the April and May reports.

Wage gains continued in June. Average hourly earnings rose by 0.2 percent in the month and are up 3.7 percent from a year ago, well above the rate of inflation. Average hourly earnings of private-sector production and nonsupervisory employees rose by 0.3 percent.

The private sector added 74,000 and the public sector added 73,000. The federal government’s payroll continued to shrink, falling by 7,000 in June.

Construction added 15,000 jobs while manufacturing contracted by 7,000. The services sector added 68,000, led by a gain of 58,600 in healthcare and social assistance. Leisure and hospitality added 20,000. There were small gains in retail trade, information technology, financial services, and utilities.

more
https://www.breitbart.com/economy/2025/07/03/golden-age-u-s-economy-adds-147000-jobs-much-higher-than-expected-and-unemployment-rate-unexpectedly-falls/

[rustynail]

Bad news for real estate, no rate cuts.

[Right_in_Virginia]

https://twitter.com/bennyjohnson/status/1940758708243648602

[LMAO]

https://twitter.com/bennyjohnson/status/1940758708243648602

@Right_in_Virginia

It would greatly benefit you to expand your sources of information beyond tweets from the likes of Benny Johnson and Johnny MAGA.

Although there are some positives in the recent reports(wages up)and it wasn’t a terrible jobs report, further digging reveals shortcomings. Almost half of the jobs created in June were government jobs(73,000 such jobs created in June).
https://www.bls.gov/news.release/pdf/empsit.pdf

We also are still losing manufacturing jobs from May and June

https://www.dol.gov/newsroom/economicdata/empsit_06062025.pdf

But, beyond the top-level data, things get a little murkier in the June report:

It is becoming harder for Americans to find work: The average duration of unemployment rose from 21.8 weeks to 23 weeks, and the share of unemployed workers who have been out of a job for 27 weeks or longer rose to 23.3%, edging closer to a three-year high. Trump’s tariffs — and the dizzying back and forth on implementing them and pausing them — has caused many businesses to stall major decision-making or spending, including hiring.

Manufacturing employment was down: The sector saw a decline for the second-straight month, losing 7,000 jobs — a cloudy development for one of Trump’s benchmark economic priorities.

Job growth was not widespread: Sectors that saw the biggest monthly gains were mostly ones that are less affected by tariffs.
.

https://amp.cnn.com/cnn/2025/07/03/economy/hidden-bad-news-june-jobs-report

But if pure jobs numbers make you happy, as a reference 206,000 jobs were created in June of 2024

https://www.bls.gov/opub/ted/2024/employment-up-206000-over-the-month-in-june-2024.htm#:~:text=Employment%20up%20206%2C000%20over%20the%20month%20in%20June%202024,-July%2009%2C%202024&text=Total%20nonfarm%20payroll%20employment%20increased,%2C%20social%20assistance%2C%20and%20construction.

[Hoodat]

Bad news for real estate, no rate cuts.

The Fed shouldn't be setting interest rates.  It should be left to market supply and demand.  If we adhered to the demands of Conservatives and balanced the budget, then the Fed would have no power.