Nonfarm Payrolls (NFP) in the United States (US) rose by 147,000 in June, the US Bureau of Labor Statistics (BLS) reported on Thursday. This reading followed the 144,000 (revised from 139,000) increase recorded in May and came in better than the market expectation of 110,000. Other details of the employment report showed that the Unemployment Rate edged lower to 4.1% from 4.2%, while the Labor Force Participation Rate ticked down to 62.3% from 62.4%. Finally, annual wage inflation, as measured by the change in the Average Hourly Earnings, retreated to 3.7% from 3.8% in May. This print fell...
U.S. stocks rose on Thursday after fresh evidence of a strong labor market reinforced views of a resilient economy. The three major indexes rose about 0.5%, with the S&P 500 and Nasdaq hitting fresh records. Nonfarm payrolls rose by 147,000 in June, well above expectations for a 110,000 gain, while the unemployment rate unexpectedly fell to 4.1%. The data brushed aside concerns that tariffs and economic uncertainty were hurting jobs, underscoring the resilience of the U.S. economy. In turn, lawmakers in the lower House of Representatives cleared a hurdle to be on track to pass Trump's...
European shares closed higher on Thursday as investors took in stride a stronger-than-expected U.S. jobs report, with bank stocks leading gains as focus remained on a potential trade deal between the European Union and the United States. The pan-European STOXX 600 index (.STOXX), closed 0.5% higher, in tandem with a 0.9% rise in the U.S. S&P 500 (.SPX), Germany's DAX (.GDAXI), advanced 0.6%, while France's CAC 40 (.FCHI), added 0.2%. U.S. job growth was unexpectedly solid in June, with the nonfarm payrolls reading shooting above market estimates for the month. "Today's good news...