The U.S. job market continues to advance steadily despite media claims about ‘growing economic uncertainty’ and the supposed ‘impact’ of President Donald Trump’s tariffs.
In June, the economy added a stronger-than-expected 147,000 jobs, while the unemployment rate fell to 4.1% from 4.2%, according to data released Thursday by the Bureau of Labor Statistics.
June’s job gains exceeded the forecast of 117,500 and showed a decent increase from May’s total, which was revised upward by 5,000 jobs to 144,000. April’s gains were also revised higher by 11,000, reaching a net increase of 158,000 jobs.
That in itself is a change from the Biden era, when the Labor Department routinely revised job numbers downward in the following months.
The revisions, along with the data released on Thursday, indicate that the average job growth over the past three months is 150,000. “Stocks opened higher after the jobs report. The Dow rose 96 points, or 0.22%. The broader S&P 500 rose 0.4% and the tech-heavy Nasdaq gained 0.6%,” CNN reported.
Job Creators Network CEO Alfredo Ortiz praised Trump during an appearance on Fox Business Network on Thursday after the Labor Department released its figures.
Hats off to President Trump because this three-legged stool of his has really been powerful: The trade, taxes, and deregulation together. It’s all about Jobs! Jobs! Jobs!” he said.
On his Truth Social page, Trump also posted a video of a Bloomberg report where the analyst said of the labor figures: “This is good news; much better than expected. … In our survey, economists were looking for [the unemployment rate] to climb up to 4.3 — It comes in at 4.1. Jobless claims — Much lower than expected.”
Meanwhile, the GOP-controlled Congress appears to be on the verge of passing signature legislation to codify much of Trump’s campaign agenda.
During an interview on Fox News with Sean Hannity Wednesday evening, House Speaker Mike Johnson spoke about Republicans’ plans to pass the One Big Beautiful Bill and deliver Trump’s full agenda to the American people.
“85 to 90% of this bill is the House generated product. The Senate made some modifications to it. They made it more conservative in some places and moderated it a little bit in others. But I’ll tell you what, as the President said so well today, this is no longer just a House bill, it’s not a Senate bill, it’s the bill of the hardworking American people,” Johnson said.
“And we are going to deliver it, as you said, Sean, by July 4th. It is so critically important. Remember, we got a clear mandate from the people in November to do this. President Trump ran on a clear set of priorities and promises, and we did as well. And this is the vehicle to deliver it. We’re almost there at that finish line,” Johnson added.
“We’re at the one-yard line in this game that’s been played over a year, really. We worked on this for about 14 months to get us to this point. We’re going to run it right up the middle and score for the American people. And I tell you what, everybody is going to benefit from this bill, Sean. As you noted all those features, it’s the most conservative piece of legislation we’ve ever worked on. You need to mention at the same time that even though while we’re having historic tax cuts, we also have historic savings. We’re going to save $1.6 trillion for the American people,” he continued.
” We’re going to cut down the size and scope of government, make it more efficient, make it work better for the people. They demand and deserve that, and the Republicans are delivering,” Johnson declared.
He added, “But when you’re talking about Medicaid, we need to make sure the program is sustained for the people it’s intended for. That’s, you know, the elderly, the disabled, young pregnant mothers, down on their luck, for example. So that’s what we do by reinstituting work requirements. If you’re a young, able-bodied man, you should be helping to pull the wagon, not riding it.”