The US economy added 209,000 jobs in June, missing Wall Street estimates and reflecting a slowdown from the previous month, data from the Bureau of Labor Statistics showed Friday.
Economists surveyed by Bloomberg had expected the 225,000 nonfarm payroll jobs were added in June. In May, the US economy added 339,000 jobs.
The June unemployment rate was 3.6%, down from 3.7% in May. Economists had expected 3.6%.
Here are the key numbers compared to what Wall Street had been expecting, according to data from Bloomberg:
Nonfarm payrolls: 209,000 vs. +225,000
Unemployment rate: 3.6% vs. 3.6%
Average hourly earnings, month-on-month: 0.4% vs. +0.3%
Average hourly earnings, year-on-year: vs. 4.4% +4.2%
Average weekly hours worked: 34.4 vs. 34.3
Investors had been closely watching the data for signs of what the Fed will do next in its campaign to raise interest rates to curb inflation.
https://finance.yahoo.com/news/june-jobs-report-july-7-2023-123312752.html
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