The US labor market continues to surprise and the unemployment rate, against the odds, is falling
Briefly

The US labor market continues to surprise and the unemployment rate, against the odds, is falling
"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%."
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.
Read at ABC11 Raleigh-Durham
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