Daily Roundup of Key US Economic Data for July 3

01:45 PM EDT, 07/03/2025 (MT Newswires) -- The June employment report showed that payroll growth was higher than expected, with a decrease in the unemployment rate, and hourly earnings growth slowed.

Nonfarm payrolls rose by 147,000 in June after a 144,000 gain in May and a 158,000 gain in April, both revised higher from their previous estimates. Private payrolls increased by 74,000, below expectations and following a 137,000 gain in May.

Government payrolls increased by 73,000, health care payrolls increased by 58,600 and leisure and hospitality jobs were up 20,000.

The unemployment rate fell to 4.1% from 4.2% in May. The labor force contracted as labor force participation decreased.

Average hourly earnings were up 0.2% in June, smaller than a 0.4% gain in May. Hourly earnings were up 3.7% year-over-year.

The ISM's services index rose to 50.8 in June from 49.9 in May, with gains in the readings for production and new orders but declines in the measures for employment and prices.

The S&P Global nonmanufacturing index was revised lower in June to 52.9 from the flash 53.1 estimate and was below the 53.7 reading in May.

Initial jobless claims decreased by 4,000 to 233,000 in the week ended June 28, the four-week moving average fell by 3,750 to 241,500.

Insured claims held steady in the week ended June 21.

Factory new orders rebounded by 8.2% in May, with transportation orders up 48.3%.

Durable goods orders were unrevised from the 16.4% gain in the advance estimate, while nondurable goods new orders rose by 0.1%.

Factory shipments and factory inventories both increased by 0.1%. When combined with already-published advance estimates for retail and wholesale inventories, business inventories tracking for a flat reading in the month.

The international trade deficit widened to $71.5 billion in May as exports fell much more than imports, in line with the advance goods trade data.

Natural gas stocks rose by 55 billion cubic feet to 2.953 trillion cubic feet in the week ended June 27, down 5.6% from a year earlier and 6.2% higher than the seasonal average for the current week over the previous five years.

The Q2 GDPnow estimate from the Atlanta Fed is for a 2.6% gain, revised up from a 2.5% gain reported on Tuesday. The next estimate is scheduled for July 9.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.