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Dow Jones NewsJul 3, 12:34 PM UTC
MW Jobs report shows 139,000 new hires in June. Bigger-than-expected gain to keep Fed from cutting interest rates soon
By Jeffry Bartash
Unemployment rate drops to 4.1% from 4.2%
ABOVE 150K/FAIRLY STRONG
The U.S. added a decent 139,000 jobs in June that pointed to resilience in the labor market, but the pace of hiring has slowed since last year as businesses grapple with trade wars and an immigration crackdown.
The rise in employment last month makes it less likely the Federal Reserve will move up its timetable on lowering interest rates. A weaker report would have renewed Wall Street speculation of a July rate cut.
Economists polled by The Wall Street Journal had forecast a slender 110,000 increase in new jobs last month.
The unemployment rate, meanwhile, fell to 4.1% from 4.2% and remained at at very low level. Companies aren't laying many people off despite uncertainty tied to U.S. trade wars.
The jobless rate had held steady between 4.0% and 4.2% over the past year.
The stock market was set to open higher after the jobs report and interest rates rose slightly.
-Jeffry Bartash
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07-03-25 0834ET
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