Jump to content

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


Recommended Posts

US JUNE JOBS REPORT KEY POINTS:
  • 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
  • image.png

  • Posts

    • As the world becomes increasingly reliant on information, crypto and blockchain projects are shifting their focus towards the information economy. This project revolves around the creation, distribution, and utilization of information and technology, where knowledge and information are valuable assets driving wealth and growth. $NESS token enters the scene as a cryptocurrency designed to facilitate connections within this information economy. Furthermore, $NESS boasts a unique reward system that incentivizes active user participation, collaboration, and contributions to the underlying platform's success. To empower users, NessLabs offers online courses promoting mindful productivity and sustainable creativity. $NESS is expected to be listed on Bitget once sufficient liquidity is achieved. Users who deposit $NESS will have an opportunity to earn passively.  
    • The transition of Web2 gaming to Web3 has been nothing short of remarkable, easily welcome by the gaming community for the way-too-juicy perks the advancement offers that can’t be ignored. Another visionary gaming team is thrilled to unveil the successful launch of its highly anticipated token, $PORTAL. Portal ecosystem is aimed at onboarding one billion gamers into a fully interoperable ecosystem that transforms the gaming experience. The ecosystem utilizes frontier tech to create player-owned economies, effectively connecting gamers in deeper ways that has not been see before. As projected, one can think of the Portal platform as one where discovering and playing games is frictionless and easy. Through a single account layer, game enthusiasts can access Web3 games with a hitch-free experience, and seamlessly play games on all chains eschewing the need to bridge additional tokens to play.  Looking at its immense potential, gamers and investors across the global where ready to hop on its trading, however one glitch was easily noticed on Binance where most users are faced with deposit difficulties. The reverse is the case on other exchanges like Bitget, where millions of gamers across the globe are actively engaging in $Portal deposit activities, showing their diehard support for another Gaming project that is set to redefine the industry.  Have you onboarded the moving train called $PORTAL? Share your thoughts          
    • It's exciting to see mobile mining and projects like ICE blockchain offering passive earnings. ICE's decentralized governance and scalability make it stand out, handling millions of transactions per second. With features like decentralized identity services, ICE is paving the way for Web3 principles.
×
×
  • Create New...
us