Nonfarm Payrolls (NFP) in the United States increased by 850,000 in June, according to data released on Friday by the US Bureau of Labor Statistics. This figure was higher than the market expectation of 700,000 and followed May’s print of 583,000 (revised from 559,000).
Follow along as we provide live updates on the US jobs report and market reaction.
Further specifics of the report indicated that the unemployment rate grew to 5.9%, slightly higher than analysts’ expectations of 5.7 percent, and that average hourly earnings increased by 0.3 percent on a monthly basis, as expected. Finally, at 61.6 percent, the Labor Force Participation Rate remained steady.
The US Dollar Index (DXY) surged to its highest level in nearly three months at 92.74 in response to the initial market reaction before retreating. The DXY was unchanged on the day at 92.55 at the time of writing./n
