Jump to content

June Jobs Report - US Economy Adds 372,000 Payrolls, Unemployment Rate at 3.6%

Recommended Posts

  • U.S. employers add 372,000 payrolls in June, above expectations of a gain of 268,000 jobs
  • The unemployment rate holds steady at 3.6%, in line with market forecasts
  • Average hourly earnings advances 0.3% on a monthly basis, bringing the annual figure to 5.1% from 5.3% in May

June Jobs Report - US Economy Adds 372,000 Payrolls, Unemployment Rate at  3.6%


Most Read: NFP and Forex: What is NFP and How to Trade It?

The U.S. labor market remained robust last month despite a rapid cooling of economic activity, caused in part by tightening financial conditions in response to the Federal Reserve's aggressive hiking cycle aimed at crushing rampant inflationary forces in the economy.

According to the Bureau of Labor Statistics, U.S. employers added 372,000 workers in June, above the expected forecast of 268,000, following a downwardly revised increase of 384,000 jobs in May. With this result, which can be considered healthy by all accounts given the late stage in the business cycle, the jobless rate held unchanged at 3.6%, signaling that the market is at or near full-employment.

Separately, the establishment survey showed that average hourly earnings, a closely tracked inflation gauge, rose 0.3% on a seasonally adjusted basis, in line with Wall Street estimates. The annual rate, for its part, fell to 5.1% from 5.3% previously, a sign that wage pressures continue to ease. While slower nominal pay growth may be undesirable for Americans, it can be seen as a positive development in the battle to restore price stability.

Jul 8, 2022 | DailyFX
Diego Colman, Market Analyst

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
    • Total Posts
    • Total Members
    • Most Online
      10/06/21 10:53

    Newest Member
    Joined 27/01/23 14:26
  • Posts

    • USDJPY has been regaining ground this week, but inflation differentials and a three-month trend signal the potential for another turn lower Source: Bloomberg      Joshua Mahony | Senior Market Analyst, London | Publication date: Friday 27 January 2023  USDJPY set for third monthly decline The USDJPY pair has been on the slide since its October high, with the historical 147.63 resistance level ultimately marking the end of the dramatic 21-month rally that saw the pair gain almost 50%. Much of that came through a period that saw US inflation soar as Japanese prices remain subdued. That disparity remains, but the direction of travel has certainly shifted as US CPI declines and Japanese price growth gradually ticks up. The overnight 4.3% figure for Tokyo core CPI represents a four-decade high, with the nationwide figures likely to follow on. The chart below highlights how USDJPY has been heavily correlated with the now tightening gap between US and Japanese inflation. However, it is more evident when shifting that inflation differential forward by seven-months. That close correlation highlights the potential for further downside as long as prices continue to trend in a similar manner. Source: ProRealTime Looking at the daily chart, the recent rebound has taken price up towards the top-end of a descending channel and Fibonacci resistance. This highlights the bearish pattern that has been playing out, with lower highs and lower lows in place in recent months. Unless we see price rise through trendline and 134.77 resistance, another turn lower looks likely for this pair. Source: ProRealTime
    • @MongiIG Hi - You recently covered Long NICKEL Trading the Trend and A. Rudolf did this morning but I see it is Closing only. Please clarify, Thanks D600
    • At the expire date IG sell/buy price is 93.8/94.95 and Bloomberg price is 92.12 Assume I bought at 100.0 If I close the trade myself I lose (100-93.8) = 6.2 If the trade expires I lose (94.95-93.8) + (100-92.12) = 1.15 + 7.8 = 9.03 Is that right?    
  • Create New...