U.S. employers added a stronger-than-expected 130,000 jobs last month, helping the unemployment rate decrease to 4.3% as reported by the Labor Department. However, government revisions significantly cut the number of jobs reported for 2024-2025 by hundreds of thousands. Despite these job gains, the labor market has remained sluggish, influenced by high interest rates and the adoption of automation and AI, which have enabled businesses to maintain productivity without expanding their workforces. While President Trump’s recent tax cuts could potentially boost consumer spending, contributing to economic growth, his immigration policies have concurrently lowered the number of foreign workers, reducing the number of new jobs needed to keep unemployment rates stable.
US adds 130,000 jobs as payroll revisions cut hundreds of thousands
