Private employers shed 33,000 jobs, with the losses most concentrated amongst professional and business services and education and health services.

The U.S. added 147,000 jobs in June, soundly beating estimates and offering a much-needed sign that the economy remains in relatively solid shape.

Hiring rose modestly from a revised 144,000 in May and beat economists’ expectations of fewer than 118,000 new jobs and a rise in the unemployment rate The U.S. job market has cooled considerably from the red-hot days of 2021-2023 when the economy bounced back with unexpected strength from COVID-19 lockdowns and companies were desperate for workers.