US hiring beats expectations in June

RTHK

15 hours ago

US hiring beats expectations in June
Job growth came in at 147,000 last month, rising from a 144,000 figure in May. File photo: Reuters
The American economy added more jobs than expected in June while the unemployment rate edged down, official data showed on Thursday, offering signs of continued labour market strength despite worries over US President Donald Trump's tariffs.
Job growth came in at 147,000 last month, rising from a 144,000 figure in May – which was also revised upwards – said the Department of Labor.
The unemployment rate ticked down from 4.2 percent to 4.1 percent, and wage gains decelerated to 0.2 percent, the report added.
The world's biggest economy has fared relatively well since the Covid-19 pandemic, with a resilient jobs market allowing consumers to keep spending.
But Trump's sweeping tariffs on US trading partners, including steep rates on imports of steel, aluminium and autos, have dragged on consumer sentiment and fuelled business uncertainty.
That uncertainty has been accentuated by the US leader's approach of unveiling, then adjusting or halting measures – causing firms to become cautious in investments.
With a further wave of tariff hikes potentially incoming next week, analysts are monitoring for fragility in the job market and signs that companies might pull back in hiring and expansion.
A consensus forecast by Briefing.com had expected overall job growth of 120,000. (AFP)