In June, U.S. employers added 147,000 jobs, lowering the unemployment rate to 4.1%. The job market remains resilient despite cooling significantly since 2021-2023. Average monthly job gains this year stand at 130,000, down from 168,000 in 2024 and 400,000 from 2021-2023. Healthcare jobs increased by 39,000, while state and local governments added 80,000 new workers. However, the federal government lost 7,000 jobs. Average hourly wages rose by 0.2% from May, with predictions of immigration policies affecting labor force participation negatively.
U.S. employers added 147,000 jobs in June, with the unemployment rate falling to 4.1%. Hiring exceeded expectations and modestly rose from May's adjusted figures.
The job market has cooled significantly since the high demand seen from 2021-2023, with an average gain of 130,000 jobs per month this year.
Healthcare jobs saw a notable increase of 39,000, while state and local governments added 47,000 and 33,000 workers respectively, contrasting with losses in the federal sector.
Average hourly wages rose by 0.2% from May and 3.7% from the previous year, getting closer to the Federal Reserve’s inflation target of 2%.
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