Mixed jobs report has Trump calling for rate cuts

The U.S. labour market showed resilience in May, adding 139,000 jobs, above expectations of 126,000 despite headwinds from President Trump's new tariff policy. The unemployment rate remained steady at 4.2%, but prior months saw significant downward revisions, with March and April figures reduced by a combined 95,000 jobs, indicating a softening trend. Wages rose 0.4% month-over-month and 3.9% year-over-year, outpacing forecasts, while labour force participation fell to 62.4%. Markets reacted positively, with major indices rising around 1%. Despite mixed signals, economists expect the Fed to hold rates steady until December, awaiting further clarity on inflation impacts from tariffs.