Caricatures and drawings on Forex portal

US employment at record low despite uptick in June

Open trading account

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

US employment at record low despite uptick in June

Offer your friend to read

The US Department of Labor reported that an unemployment rate edged up to 3.7% in June from 3.6% in May, the lowest jobless rate since 1969. Experts say that an uptick in the unemployment rate came as a result of the overall increase in the share of employed Americans. The participation rate or a share of working-age people in the labor force rose to 62.9% from 62.8%.

The official nonfarm payrolls read that the number of jobs in the US economy surged by 224,000 in June. The figure surpassed the consensus which suggested a modest increase of 160,000.

Robust hiring in the US economy in June proves health of the US labor market despite pressure from trade conflicts.

Average hourly earnings in the US climbed by 0.2% in June month-on-month, thus driving an annual rate to 3.1%. Nevertheless, both indicators of wage growth fell short of expectations as analysts had projected an increase of 0.3% on month and by 3.2% in annual terms.

The US manufacturing sector added 17,000 new jobs in June. The private sector revealed the most impressive employment with 191,000 new jobs. Besides, the number of jobs in the public sector grew by 33,000.

Back