Guess what happened with the jobs report?

It was unexpectedly good!

Hiring Defied Expectations Last Month

July 3, 2025 at 8:38 am EDT By Taegan Goddard

The U.S. added 147,000 jobs in June, the Labor Department reported Thursday, above the gain of 110,000 jobs economists had expected, the Wall Street Journal reports. The unemployment rate fell to 4.1% from 4.2%.

So the buzz over at PoliticalWire.com is that the numbers are being manipulated and are not actually real, or that the reports are now inaccurate because of all of the staffing cuts. Either way, there was previous jobs report that came out earlier this week (ADP) that was less positive and now everyone is trying to explain the gap between the two.

Of course the ADP jobs report is something different and focuses solely on privately run businesses. Oddly, the report this month included a large amount of "reasoning" that I have not seen in other reports

“Though layoffs continue to be rare, a hesitancy to hire and a reluctance to replace departing workers led to job losses last month,” said Nela Richardson, chief economist of ADP.

So it would seem like we were getting a bit of political editorialization of the numbers which seems odd. Especially considering "reasoning" would not be part of any sort of survey that goes out to these businesses. Moreover, those numbers (a 33K drop) did not match either economists predictions or the jobs report that came out from the BLS.

Either way, the BLS jobs report is unexpectedly good and that is good news for the economy.