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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- The u/e rate prints a ‘low’ 3.6% at 3.57% in June, down from 3.65% as it moves back closer to April’s multi-decade low of 3.39% (a non-trivial number of analysts saw 3.7%).
- It comes with household employment bouncing 273k after last month’s -310k, vs two months of circa +130k for the labor force.
- The dip in the u/e rate comes with the participation rate unchanged at 62.6, masking another nudge higher in the prime-age participation rate to 83.5 (+0.1pt) for fresh highs since 2002. At some point that’s likely to top out and require other age cohorts to come back to the labor market for further participation gains (indeed, 55+ participation fell further to 38.3%, now a full 2pts below pre-pandemic levels).
- The underemployment (U6) rate meanwhile offers a more dovish take, rising 0.2pts to 6.9% for its highest since August.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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