Catenaa, Thursday, July 03, 2025- US labor market continues to add more jobs despite economic uncertainty, as 147,000 nonfarm jobs were added in June, along fall in the unemployment rate.
The US economy added 147,000 nonfarm payrolls in June, more than the 106,000 expected by economists. The unemployment rate unexpectedly fell to 4.1%. Economists had expected the unemployment rate to move higher to 4.3%.
In May, the US economy added 144,000 jobs while the unemployment rate held flat at 4.2%. Those figures were revised higher on Friday from a previously reported 139,000 job additions in May.
Average hourly earnings in June rose 0.2% over last month and 3.7% over the prior year. Economists expected wages to rise 0.3% over the last month and 3.8% over the prior year. Meanwhile, the labor force participation rate fell to 62.3% from 62.4% the month prior.
Government employment rose by 73,000 workers in June, accounting for roughly half of the month’s gains.
On Wednesday, ADP data showed private employers unexpectedly cut 33,000 jobs in June. This marked the first month of job losses in the private sector since March 2023.
Meanwhile, continuing filings for unemployment benefits recently hit their highest level in nearly four years.
But the data has yet to indicate a significant, broad-based slowdown in the labor market. On Tuesday, the May Job Openings and Labor Turnover Survey (JOLTS) showed job openings ended May at their highest level since November 2024.
The release also showed the quits and hiring rates remaining near decade lows.
US stocks rose with the job report on Thursday morning as the S&P 500 rose by 0.4%, the Dow Jones by 0.2% and the Nasdaq by 0.6%
