Insights

On the surface, the labor market held firm in June, surpassing economists’ expectations yet again, with strong job gains and softening unemployment, which dropped to 4.1%. Employers added 147,000 jobs last month, continuing a steady run of hiring to close out the second quarter, according to the Bureau of Labor Statistics’ (BLS) Employment Situation Summary. 

Employers continued a steady run of hiring, adding 139,000 jobs in May, according to the Bureau of Labor Statistics’ (BLS) Employment Situation Summary. The labor market continues to persevere, and unemployment remains at 4.2% in spite of inflation, interest rate increases and trade war tensions. While the labor report has shown strength in the face of market pressures,  job growth is slowing, and gains are narrow.  

Economists continue to anticipate the impact of tariff anxieties on monthly job reports, yet April saw another month of stable job growth. Employers added 177,000 jobs, and unemployment retained its 4.2% rate, according to the Bureau of Labor Statistics’ (BLS) Employment Situation Summary. 

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