Summary:
U.S. job growth in June was strong, with half from government jobs. Private sector growth hit an 8-month low. Unemployment fell to 4.1%.
July NFP
1/8/2025 (Thu)
Previous:147k Forecast:102k
US job growth was unexpectedly solid in June, but nearly half of the increase in nonfarm payrolls came from the government sector, with private industry gains the smallest in eight months.
Unemployment rate falling to 4.1% last month from 4.2% in May, in part because some people left the labour force. The average workweek was shorter, suggesting businesses were probably reducing hours.
Federal government job losses continued amid efforts by the White House to slash headcount and spending, with 7,000 positions lost in May. Federal government employment is now down 69,000 since January.
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