- Unemployment ticked up to 3.7% in June from 3.6% in May.
- Wage inflation, as measured by average hourly earnings, stayed unchanged at 3.1% (YoY) in June.
The U.S. Bureau of Labor Statistics on Friday reported that nonfarm payrolls in June increased by 224,000 following May's reading of +72,000 (revised from 75,000) and missed the market expectation of 160,000 by a wide margin.
With the initial reaction, the US Dollar Index jumped above the 97 mark and was last seen adding 0.33% on the day at 97.06.
Key takeaways from the press release
"The labor force participation rate, at 62.9 percent, was little changed over the month and unchanged over the year."
"The unemployment rate was little changed at 3.7 percent."
"In June, average hourly earnings for all employees on private nonfarm payrolls rose by 6 cents to $27.90, following a 9-cent gain in May."
"Over the past 12 months, average hourly earnings have increased by 3.1 percent."
"The average workweek for all employees on private nonfarm payrolls was unchanged at 34.4 hours in June."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.