The U.S. Bureau of Labor Statistics (BLS) issued its much-anticipated monthly jobs report. CNBC reports,
U.S. payrolls increased by 147,000 in June, more than expected.
Not only did the jobs number beat expectations, but the BLS revised previous months higher. From the report itself,
The change in total nonfarm payroll employment for April was revised up by 11,000, from +147,000 to +158,000, and the change for May was revised up by 5,000, from +139,000 to +144,000.
More good news,
Job losses continued in federal government (-7,000), where employment is down by 69,000 since reaching a recent peak in January. (Employees on paid leave or receiving ongoing severance pay are counted as employed.)
If that weren’t enough, comparing the January 2025 jobs report to the June report shows that the number of foreign-born workers is down 543,000, with the number of native-born employed is up 2,079,000 over that same period. The total foreign-born, working-age population has declined 1,300,000 since January.
All of this winning was enough to propel the stock market (S&P 500 index) to a new all-time high, ahead of the long holiday weekend. Year to date the market index is up 7 percent and up nearly 9 percent since Election Day 2024.
Happy 4th of July to one and all!
