Summary:
Due to the uncertainty of U.S. tariffs, May job growth slowed, and steady wage growth may delay the Federal Reserve's rate cuts.
Jun NFP
3/7/2025
Previous：139k Forecast: 110k
US job growth slowed in May amid uncertainty about US tariffs, but solid wage growth should keep the economic expansion on track and potentially allow the Fed to delay resuming its interest rate cuts.
The ebbing labour market momentum was underscored by sharp downward revisions that showed 95,000 fewer jobs were added in March and April than previously estimated over the two-month period.
Federal government payrolls decreased by 22,000 and are down 59,000 since January amid an unprecedented campaign by the White House to drastically reduce the government's footprint.
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