Nonfarm Payrolls in the US rose by 372,000 in June, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading followed May’s increase of 384,000 (revised from 390,000) and came in better than the market expectation of 268,000. The Unemployment Rate remained unchanged at 3.6% as expected. Further details of the publication revealed that the annual wage inflation, as measured by the Average Hourly Earnings, edged lower to 5.1% from 5.3% in May and the Labor Force Participation declined to 62.2% from 62.3.Total nonfarm payroll employment in the United States increased by 372,000 in June beating market estimates, with the unemployment rate remaining unchanged at 3.6%.
According to a report published by the Labor Statistics Bureau on Friday, the unemployment rate stood at 3.6% for the fourth month in a row as the number of unemployment remained at 5.9 million. The figures were similar to those from the pre-pandemic level. The highest jobless rate of 11% was recorded among teenagers, followed by 5.8% among Blacks, the report concluded. NN: another Wall Street orgy proven to be just another wet dream pin up picture and all. The surprise result for Wall Street not me are supporting the Federal Reserve’s decision to increase the pace of interest rate hikes in the coming months. Wall Street was spinning the economy was slow enough to stay future FEDS rates increases… No cookie here,,,,,,, Prepare for antilock break deployment. At least the street will not slide into the brick wall. It will be a controlled crash.