BLS Says Job Gains Were +147,000 in June; House Appears Ready to Advance Big, Beautiful Bill for President's Signature

With anxious investors awaiting June's Non-farm Payroll data prior to getting away for the three-day 4th of July weekend, the BLS settled everybody’s nerves by announcing job gains of 147,000 for the month.

From the press release:

Total non-farm payroll employment increased by 147,000 in June, and the unemployment rate changed little at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in state government and health care. Federal government continued to lose jobs.

Both the unemployment rate, at 4.1 percent, and the number of unemployed people, at 7.0 million, changed little in June. The unemployment rate has remained in a narrow range of 4.0 percent to 4.2 percent since May 2024.

The BLS figures ran counter to Wednesday's ADP report of -33,000 jobs in the private sector during June. As usual, Wall Street celebrated, sending futures shooting higher immediately upon the release.

Just after 8:30 am, Dow futures were up 95 points, S&P futures gained 15, and NASDAQ futures were up 75.

Also, in response to the employment numbers, the criminals at the COMEX managed to send gold lower by nearly $40, to $3,322.10, as if a normal U.S. job report equated to negativity towards gold.

Meanwhile, in the nation's capital, the House of Representatives was in a lather, feverishly arranging votes on the big, beautiful continuing resolution which cleared the Senate on Tuesday.

"We have the votes," speaker Mike Johnson told reporters at about 3:00 am ET.

The House voted 219-213 a few minutes later to begin formal debate on the measure with only one Republican - Brian Fitzpatrick of Pennsylvania - voting no. Speaker Johnson managed to secure votes from the Freedom Caucus, members of which had voiced concerns over various parts of the bill. There were also some holdouts in moderate camps, but they seem to have been convinced to pass the bill and move on, as all Democrats are expected to vote against the measure.

It now appears that Wall Street will get all its Christmas in July wishes fulfilled and send stocks to more record highs ahead of Independence Day. MAGA, everybody, MAGA.

Happy 4th of July.

At the Close, Wednesday, July 2, 2025:
Dow: 44,484.42, -10.52 (-0.02%)
NASDAQ: 20,393.13, +190.24 (+0.94%)
S&P 500: 6,227.42, +29.41 (+0.47%)
NYSE Composite: 20,596.93, +55.56 (+0.27%)