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U.S. Job Market Beats Expectations in June
by Worthy News Washington D.C. Bureau Staff
(Worthy News) – The U.S. economy added 147,000 jobs in June, beating forecasts of 115,000, while the unemployment rate edged down to 4.1%, according to Labor Department data released July 3. Economists had expected a rise to 4.3%.
Most job gains came from state and local government, especially education. Private-sector hiring slowed significantly, adding just 74,000 jobs—its weakest showing since October 2024. Manufacturing jobs declined for the second straight month, and federal jobs fell by 7,000.
Average hourly earnings rose 0.2% in June, below expectations, while labor force participation slipped to 62.3%. Long-term unemployment surged by 190,000, and more Americans are working multiple jobs, now totaling 8.87 million.
Immigration enforcement may be dampening workforce participation. The share of foreign-born workers in the labor force dropped to 66.3%, down from 67.3% last year. Economists warn the U.S. may need fewer new jobs to maintain low unemployment due to declining immigration.
Markets reacted positively. Stocks rose slightly, Treasury yields climbed, and the dollar strengthened. The strong report reduced expectations for a July Fed rate cut, with most bets now shifting to September.
Despite strong headline numbers, analysts warn job growth is narrowing and uncertainty over trade and Fed policy looms large.
Copyright 1999-2025 Worthy News. This article was originally published on Worthy News and was reproduced with permission.
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