Mitch Graham (C) inquires about jobs at Triton Recovery during the Mega JobNewsUSA South Florida Job Fair held in the Amerant Bank Arena on April 30, 2025 in Sunrise, Florida.
Joe Raedle | Getty Images
Job growth proved better than expected in June, as the labor market showed surprising resilience in the wake of President Donald Trump’s calls for interest rate cuts.
Nonfarm payrolls increased a seasonally adjusted 147,000 for the month, higher than the estimate for 110,000, the Bureau of Labor Statistics reported Thursday.
The unemployment rate fell to 4.1%, against a forecast for a slight increase to 4.3%.
Along with the solid payroll gains and fall in the unemployment rate, average hourly earnings increased 0.2% for the month and 3.7% from a year ago, indicating muted inflation pressures.
Government employment posted a large gain, leading all categories with an increase of 73,000 due to solid boosts in state and local hiring, particularly in education-related jobs. Federal government, which is still feeling the impact of cuts from Elon Musk’s Department of Government Efficiency, lost 7,000.
In addition, health care again was strong, adding 39,000, while social assistance contributed 19,000.
Stock market futures held positive following the report while Treasury yields rose sharply.
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