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 short of analysts' estimate of 3.9%.
The all-important United States (US) Nonfarm Payrolls (NFP) data for June will be released by the Bureau of Labor Statistics (BLS) on Thursday at 12:30 GMT.
The June employment report will be closely scrutinized to gauge the timing of the US Federal Reserve's (Fed) next interest rate cut and the direction of the US Dollar (USD), which trades close to three-and-a-half-year lows against its major peers.
Source: Fxstreet
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