The U.S. economy added 147,000 jobs in June<\/strong>, surpassing expectations and reinforcing President Donald Trump\u2019s claims that his economic policies are driving robust growth despite geopolitical uncertainty and immigration restrictions. The unemployment rate unexpectedly fell to 4.1%<\/strong>, while average hourly wages climbed 3.7% year-over-year<\/strong>, according to Friday\u2019s Labor Department report.<\/p>\n\n\n\n Economists had forecast a slowdown in nonfarm payrolls to 110,000 and a slight uptick in the jobless rate to 4.3%. Instead, June\u2019s strong showing marked the fourth consecutive upside surprise<\/strong>, and April and May figures were revised up by a combined 16,000 jobs.<\/p>\n\n\n\n White House Press Secretary Karoline Leavitt celebrated the data, writing on X: \u201cAmerican-born workers have accounted for ALL of the job gains since President Trump took office… The economy is BOOMING again and it will only get better when the One, Big Beautiful Bill is passed and implemented!\u201d<\/em><\/p>\n\n\n\n Many economists had anticipated that Trump\u2019s immigration crackdown would tighten the labor supply and drag down hiring, especially as the share of foreign-born workers has declined. However, private sector hiring remains resilient, and companies continue to absorb the change without significantly cutting back recruitment efforts.<\/p>\n\n\n\n June\u2019s gains were broad-based, with notable hiring in healthcare, state and local governments. The labor market\u2019s continued strength contradicts earlier warnings from Wall Street analysts who expected slower growth and potentially negative effects from shrinking immigration levels.<\/p>\n\n\n\nImmigration policy impact less severe than feared<\/h2>\n\n\n\n
Rate cut prospects dwindle as inflation concerns linger<\/h2>\n\n\n\n