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Brewing trouble in the American labor market did not manifest itself in the latest official jobs report from the U.S. Bureau of Labor Statistics (BLS).
Despite ominous warnings of a potential downturn in the labor market, the American economy actually added 147,000 new positions last month. Also, reports from previous months were upwardly revised – a contrast to the pattern we witnessed during the administration of Joe Biden.
As a result, the nation’s unemployment rate dipped to 4.1% – well below the Federal Reserve’s recently revised estimate of 4.5%. The bad news? Labor participation – arguably a more comprehensive employment metric – retreated to 62.3%, its worst reading under the second administration of U.S. president Donald Trump.
Another 130,000 people left the labor force last month following a 625,000 drop during the month of May.
Also concerning? More than half of the new positions created – an estimated 73,000 jobs – were government hires, although the federal workforce did decline by 7,000 positions.
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Nonetheless, the overall job growth – particularly among native-born workers – was positive, drawing celebratory commentary from Trump’s White House.
“For the FOURTH month in a row, jobs numbers have beat market expectations with nearly 150,000 good jobs created in June,” White House press secretary Karoline Leavitt noted in a statement. “American-born workers have accounted for ALL of the job gains since President Trump took office and wages continue to rise. The economy is booming again and it will only get better when the One, Big, Beautiful Bill is passed and implemented.”
All told, the number of native-born workers jumped by 830,000 – while the number of foreign-born workers slid by 348,000. Since Trump took office in January, the number of native-born workers has climbed by 1.5 million while the number of foreign-born workers has declined by approximately 1 million.
Count on FITSNews to keep our audience up to speed on the latest national economic developments… as well as what’s happening (or not happening) here in the Palmetto State.
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THE REPORT…
(BLS)
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ABOUT THE AUTHOR…
Will Folks is the founding editor of the news outlet you are currently reading. Prior to founding FITSNews, he served as press secretary to the governor of South Carolina. He lives in the Midlands region of the state with his wife and eight children.
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