U.S. economy adds 147,000 jobs in June

Employment & Economic Growth - The US economy added 147,000 jobs in June, exceeding expectations [1] - The unemployment rate slightly decreased to 4.1% [1][4] - Average hourly earnings show a 3.7% growth over the past year, indicating compensation for employed individuals [2][11] - The first quarter GDP number came in at 0.5%, indicating a not strong but not weak economy [15] Sector Performance - State government jobs were a significant driver of job growth, contrasting with weaker private sector job growth [3] - The healthcare sector, including residential care facilities and nursing homes, consistently drives employment [6] - Federal government jobs decreased by 7,000, totaling 69,000 cuts so far [5] - Mining, quarrying, manufacturing, and wholesale trade experienced little change, aligning with expectations given trade policy uncertainty [7] Monetary Policy & Consumer Behavior - The possibility of a Federal Reserve rate cut next month decreased from 25% to approximately 2%, suggesting a relatively strong economy [8] - Wage growth was slightly below expectations at 0.2% compared to the expected 0.3% [10] - There's a bifurcation in the labor market, with employed individuals experiencing decent wage growth, while recently unemployed or graduated individuals face some weakness [12] - Consumers are saving more, potentially slowing down spending and economic activity [13][14]