June's job report indicated an addition of 147,000 jobs and a decline in unemployment to 4.1 percent, contrasting economists' predictions of a slowdown. The reported figures suggest resilience in the labor market, even with the impact of tariffs in play. Andrew Ross Sorkin noted that this positive economic data strengthens Jerome Powell's position, enabling him to resist President Trump's repeated calls for a decrease in the benchmark interest rate. As a result, the likelihood of an imminent rate cut seems diminished following the release of these job statistics.
Figures from the Bureau of Labor Statistics show that the economy added 147,000 jobs last month with unemployment down to 4.1 percent, signaling ongoing resilience in the labor market despite tariffs.
Andrew Ross Sorkin explained that the new jobs number gives Fed Chair Jerome Powell the upper hand against President Trump's demands to lower interest rates.
Collection
[
|
...
]