US Private Sector Adds 147,000 Jobs in June; Unemployment Dips to 4.1%

The Bureau of Labor Statistics reported a surprise gain of 147,000 nonfarm payrolls in June, outpacing the 110,000-job forecast, and driving the unemployment rate down from 4.2% to 4.1%. State and local governments led with a 73,000-job increase—largely in education—while healthcare added 39,000 positions. Manufacturing lost 7,000 roles, continuing a year-long decline, and federal government employment fell by 7,000. Average hourly earnings rose 0.2% for the month and 3.7% year-over-year, and the average workweek edged down to 34.2 hours.