US labor market surprises with 147,000 new jobs last month. Here are the big takeaways

A help wanted sign is posted outside of business in Philadelphia, Wednesday, June 22, 2022. (AP Photo/Matt Rourke)

The U.S. labor market delivered another upside surprise last month, churning out a surprisingly strong 147,000 jobs. The unemployment rate ticked down unexpectedly, too.

But the headline numbers masked some weaknesses as the U.S. economy contends with fallout from President Donald Trump’s economic policies, especially his sweeping import taxes and the erratic way he rolls them out.

Here are five key takeaways from the jobs report the Labor Department released on Thursday.