In June, the US economy saw a surprising increase in hiring, with 147,000 jobs added, surpassing the expected 110,000 jobs, as reported by the Labor Department.

• The unemployment rate fell to 4.1%, down from 4.2% in May.
• George Brown, senior economist at Schroders, noted the resilience of the US labor market despite tariff challenges.
• The increase in hiring was driven by state and local government education (adding 63,500 jobs) and healthcare and social assistance (gaining 58,600 jobs).