In August 2024, a job seeker in Florida waits to meet with employers at a job fair. The U.S. Department of Labor released the latest employment data on June 6, showing stability in the job market during President Trump’s announcement of a 90-day suspension of equal tariffs. In May, 139,000 non-farm jobs were added, and the unemployment rate remained at 4.2%, slightly better than market expectations.

The latest non-farm job numbers align closely with economists’ predictions surveyed by The New York Times, exceeding the Dow Jones expectation of 125,000. On the other hand, the uncertainty surrounding Trump’s tariffs has yet to cause tangible harm to the job market. According to Reuters, the latest employment data indicates a continuous cooling of the labor market, but a collapse is still far off.

Traders believe that the Federal Reserve (Fed) has no urgent reason to cut interest rates and may wait until September to lower rates, followed by another cut in December. The major U.S. stock indices showed calm prior to trading, with the Dow down 108 points or 0.25%, the S&P 500 down 31.51 points or 0.53%, and the Nasdaq down 162.04 points or 0.83%.