In June, U.S. employers added 147,000 jobs while the unemployment rate decreased to 4.1%. This hiring figure exceeded economist predictions amidst heightened concerns regarding President Trump's economic policies. The job market has considerably cooled since its peak from 2021 to 2023, averaging 124,000 new jobs in 2024, a decline from previous years. Although layoffs are rare, recent surveys show hesitancy to hire and replace workers, contributing to job losses. Tariffs imposed by Trump have added complexity, potentially harming efficiency and leading to retaliation from other nations.
Employers added 147,000 jobs in June, lowering the unemployment rate to 4.1%, surprising many given uncertainty over President Trump's economic policies.
The economy showed resilience despite a cooled job market, with an average addition of 124,000 jobs monthly in 2024, down from 400,000 in 2021-2023.
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