WASHINGTON—The U.S. economy posted stronger-than-expected job gains in June, even as uncertainty around trade, tax, and monetary policy continues to weigh on the outlook.
According to data released Thursday by the Labor Department, employers added 147,000 jobs last month—well above the 110,000 forecast by several economists.
The unemployment rate edged down to 4.1%, beating expectations of a slight rise to 4.3%.
"The June labor market report exceeded expectations with stronger job creation and lower unemployment rate, while previous months’ hiring numbers were also revised up,” said America's Credit Unions Senior Economist Dawit Kebede. “The robust employment picture supports the Federal Reserve’s cautious approach of waiting for more data on inflation before cutting rates. Markets also assign a low probability to a July rate cut. This solid labor market environment helps credit union members maintain loan affordability and on-time payment."