US, NFP report for June.
- Non-farm payrolls: 209k vs 225k expected (339k previously)
- Unemployment rate: 3.6% vs 3.6% expected (3.7% previously)
- Wage growth (monthly): 0.4% MoM vs 0.3% MoM expected (0.4% MoM previously)
- Wage growth (annually): 4.4% YoY vs 4.2% YoY expected (4.4% YoY previously)
In June, the total nonfarm payroll employment in the United States increased by 209,000, while the unemployment rate remained relatively stable at 3.6%, according to the U.S. Bureau of Labor Statistics. The sectors that experienced employment growth were government, health care, social assistance, and construction. The number of long-term unemployed individuals remained unchanged at 1.1 million, accounting for 18.5%of the total unemployed. The labor force participation rate and the employment-population ratio remained unchanged as well. Additionally, there was an increase in the number of individuals employed part-time for economic reasons. In terms of the establishment survey, nonfarm employment increased by 209,000, with notable growth in government, health care, social assistance, and construction sectors. However, the rate of employment growth has been lower in 2023 compared to 2022. The report also indicated that average hourly earnings increased by 0.4%, and the average workweek remained relatively stable. There were revisions to the employment figures for April and May, resulting in a lower combined employment count than previously reported.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
EURUSD thicks significantly higher after the publication, strong US labor market increases the likelihood of rate hikes in the next Federal Reserve (Fed) meeting, M15 interval, source: xStation5
Source: Bloomberg, XTB
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
