US EditionFederal jobs report beats expectations in June
- The June Employment Situation report released today shows that 147,000 jobs were added and the unemployment rate decreased to 4.1%.
- This report follows ADP data showing a private sector loss of 33,000 jobs and reflects concerns about discouraged workers and a retreating labor force participation rate of 62.3%.
- Government hires led job growth with 73,000 new positions, especially at state and local levels, while federal jobs declined by 7,000 amid ongoing cuts.
- Experts noted the report beat the expected 110,000 jobs, with Jim Baird attributing strength to government employment and Simon Dangoor stating the FOMC should maintain its wait-and-see stance.
- The strong June labor data lessens prospects for a Fed rate cut in mid-July and suggests the labor market remains stable despite some underlying weaknesses.
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US hiring remains steady, beating expectations
US employers added more jobs than expected in June, according to Labor Department figures released Wednesday. The unemployment rate also unexpectedly fell to 4.1%.Many economists had projected US President Donald Trump’s trade and fiscal policies to affect hiring, but the data suggests that effect either is yet to appear, or may be more muted than expected. The report could bolster the US Federal Reserve’s “wait and see” approach: The central ba…
·New York, United States
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Total News Sources13
Leaning Left3Leaning Right1Center3Last UpdatedBias Distribution43% Left, 43% Center
Bias Distribution
- 43% of the sources lean Left, 43% of the sources are Center
43% Center
L 43%
C 43%
14%
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