Overview

• The US added 147,000 nonfarm jobs in June, and the Labor Department revised April and May job gains upward by a combined 16,000.
• The unemployment rate edged down to 4.1% in June from 4.2% in the prior month.
• Average hourly earnings rose by 0.2% month-on-month and 3.7% year-on-year, pointing to moderation in wage pressures.
• ADP reported a 33,000 decline in private-sector employment for June, underscoring business reluctance to expand headcounts.
• Federal Reserve Chair Jerome Powell said the central bank will delay interest-rate cuts until it has more clarity on how imminent tariff changes will affect inflation.