US Jobs Rise in June, Growth Moderates

The U.S. economy added 147,000 jobs in June, surpassing expectations for the fourth consecutive month, with much of this growth coming from public education and government hiring. The unemployment rate fell to 4.1%, its lowest since February, while average hourly wages rose by 3.7% over the past year. Most private sector job gains were concentrated in health care, as manufacturing continued to lose jobs due to the impact of President Trump's tariffs. Despite White House claims of robust economic performance, economists note that hiring is slowing compared to the post-pandemic surge and private labor demand remains weak. Revisions to previous months' data added 16,000 jobs to earlier estimates, reinforcing the picture of a resilient but moderating labor market. The Federal Reserve is maintaining a cautious stance on interest rate cuts amid ongoing economic uncertainty.