US employers added more jobs than expected in June, according to Labor Department figures released Wednesday. The unemployment rate also unexpectedly fell to 4.1%.
Many economists had projected US President Donald Trump’s trade and fiscal policies to affect hiring, but the data suggests that effect either is yet to appear, or may be more muted than expected.
The report could bolster the US Federal Reserve’s “wait and see” approach: The central bank has signaled it could delay cutting interest rates while the economy appears on solid footing, despite coming under pressure from Trump to cut rates.
Some experts however are increasingly concerned that government economic data may be losing some integrity due to fewer people responding to surveys and budget constraints, The Washington Post reported.