NFP surprise: 287 thousand new jobs

Chart_16-07-08_15-36-43
EURUSD, Daily
U.S. nonfarm payrolls surged 287k in June from a revised 11k increase in May (was 38k) and 144k in April (was 123k), with a net -6k revision. The labor force rebounded 414k following declines of 458k and 362k in May and April, respectively, while household employment was up 67k from a 26k May increase.
The unemployment rate rose to 4.9% from 4.7%. Average hourly earnings edged up 0.1% from 0.2%. The workweek was steady at 34.4. Private payrolls climbed 265k, with the goods producing sector seeing a 9k increase, while construction unchanged, with manufacturing rising 14k. The service sector added 256k, with education/health, and leisure/hospitality each rising 59k, while information was up 44k. Government jobs increased 22k. The mixed report probably won’t have much impact on the markets.

Janne Muta

Chief Market Analyst

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jmutaJanne Muta is a seasoned industry professional with over 16 years experience in the global markets. Originally from Finland, Janne has worked for institutions in both Helsinki and London as an institutional fund manager, global market analyst and FX educator.

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