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.
U.S. nonfarm payroll employment added 187,000 in July, roughly flat from a downward revised 185,000 in June and slightly below analyst expectations for a 200,000 increase, data from the Bureau of Labor Statistics showed. The unemployment rate dipped a tenth to 3.5%, staying in the narrow 3.4% to 3.7% range it's been in for the past 15 months.
The data point to a very resilient labor market in spite of the Federal Reserve's rapid interest rate hikes since early last year. Wage growth is still elevated, with average hourly earnings coming in a tenth stronger than expected at 0.4% on the month, same as in June, and 4.4% over the past 12 months. Labor force participation has been flat at 62.6% for five straight months.
Job gains were led by health care (+63K), followed by social assistance (+24K)), financial activities (+19K) and wholesale trade (+18K). Employment in leisure and hospitality, which had seen big gains in the first quarter, added just 17,000.
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.