The U.S. Bureau of Labor Statistics reported that the economy added 250,000 jobs in June, exceeding the anticipated 200,000, despite growing tariff-related worries.
The unemployment rate held steady at 4.1%, with sectors like manufacturing (50,000 jobs) and tech (30,000 jobs) leading the gains, buoyed by a $500 billion infrastructure package. However, analysts warn that President Donald Trump’s proposed 20% tariff on imports, targeting China and the EU, could jeopardize 10% of the 15 million manufacturing jobs by 2026.
The report, released at 8:30 AM EST, showed wage growth at 3.8% annually, supporting consumer spending amid a 2.5% GDP growth forecast. The Federal Reserve, reviewing rates on July 10, faces pressure to maintain stability, with 60% of economists citing tariff risks.
Businesses, representing 5 million workers, report $2 billion in supply chain disruptions, prompting a 15% stock market dip in tariff-sensitive firms like Tesla. The administration defends the policy as a $300 billion revenue boost, but 70% of voters express concern over inflation, with a national debate scheduled for July 15 to address economic impacts.