The Trump Effect.
Job growth exceeded expectations in June, driven primarily by government hiring, which underscores the labor market’s resilience and makes a July rate cut unlikely.
According to CNBC, nonfarm payrolls rose a seasonally adjusted 147,000—comfortably above economists’ forecast of 110,000 and edging past May’s revised figure of 144,000, the Bureau of Labor Statistics reported Thursday. April’s numbers also nudged upward, to 158,000 after an 11,000-job boost.
Stocks rose following the report while Treasury yields increased sharply in a trading session that will end early ahead of the Independence Day holiday Friday in the U.S.
“The solid June jobs report confirms that the labor market remains resolute and slams the door shut on a July rate cut,” said Jeff Schulze, head of economic and market strategy at ClearBridge Investments. “Today’s good news should be treated as such by the markets, with equities rising despite the accompanying pickup in interest rates.”
President Trump’s Rapid Response Team shared the positive jobs headlines on X.
“Stronger-than-expected”
“Unemployment rate fell”
“Resilient Economy”
“Strong Jobs Data”
That’s the Trump Effect. 🔥 pic.twitter.com/f8cPpgI1R1
— Rapid Response 47 (@RapidResponse47) July 3, 2025
CNN said the jobs market is like the “Energizer Bunny.”
CNN: "This jobs market is like the Energizer Bunny. Every single time we expect it to run out of steam, it just keeps going and going."
"We were also expecting a slowdown — we did NOT get that."
"The unemployment rate was expected to go up — it didn't. It went DOWN."
🔥🔥🔥 pic.twitter.com/glEpmwgFSX
— Rapid Response 47 (@RapidResponse47) July 3, 2025
White House Press Secretary Karoline Leavitt shared the news on X, saying, “For the FOURTH month in a row, jobs numbers have beat market expectations with nearly 150,000 good jobs created in June. American-born workers have accounted for ALL of the job gains since President Trump took office and wages continue to rise. The economy is BOOMING again and it will only get better when the One, Big Beautiful Bill is passed and implemented!”
For the FOURTH month in a row, jobs numbers have beat market expectations with nearly 150,000 good jobs created in June. American-born workers have accounted for ALL of the job gains since President Trump took office and wages continue to rise. The economy is BOOMING again and it… pic.twitter.com/gesG2sonBk
— Karoline Leavitt (@PressSec) July 3, 2025
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