Nonfarm payrolls were expected to increase 110,000 in June. The unemployment rate was forecast to rise to 4.3%.Nonfarm payrolls were expected to increase 110,000 in June. The unemployment rate was forecast to rise to 4.3%.
Job growth proved better than expected in June, as the labor market showed surprising resilience in the wake of President Donald Trump’s calls for interest rate cuts.
Nonfarm payrolls increased a seasonally adjusted 147,000 for the month, higher than the estimate for 110,000, the Bureau of Labor Statistics reported Thursday.
The unemployment rate fell to 4.1%, against a forecast for a slight increase to 4.3%.
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