Core Viewpoint - The U.S. labor market showed remarkable resilience in June, with non-farm employment growth exceeding expectations, indicating a strong economic performance despite calls for interest rate cuts by Trump [1] Employment Growth - In June, non-farm employment increased by 147,000, surpassing the expected increase of 110,000 [1] - The unemployment rate decreased to 4.1%, reflecting a steady growth in employment and a decline in unemployment [1] Wage Growth - Average hourly earnings rose by 0.2% month-over-month and increased by 3.7% year-over-year, suggesting a reduction in inflationary pressures [1] Sector Performance - Government employment saw the largest increase, adding 73,000 jobs, primarily due to significant growth in state and local government positions, especially in education-related jobs [1] - The federal government experienced a loss of 7,000 jobs, impacted by layoffs in the efficiency department under Musk [1] - The healthcare sector also performed strongly, adding 39,000 jobs, while social assistance employment increased by 19,000 [1]

Group 1 - The core viewpoint is that the Reserve Bank of New Zealand, led by Governor Hawkesby, has observed a decline in demand and a reduction in inflationary pressures compared to February [1] Group 2 - The statement indicates that the economic environment is showing signs of weakness, which may influence future monetary policy decisions [1] - The reduction in inflationary pressures suggests that the central bank may have more flexibility in adjusting interest rates moving forward [1]