-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
MNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
-
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI DATA ANALYSIS: US June Payrolls Rise 213k, 4.0% Rate>
--Rise in Unemployment Rate Reflects Surge In Household Unemployed
--Hourly Earnings +0.2% After +0.3% in May, Y/Y Rate Stays At 2.7%
--Participation Rate Rises To 62.9% From 62.7% In May
By Kevin Kastner, Sara Haire, and Harrison Clarke
WASHINGTON (MNI) - The June employment report released Friday
showed the nonfarm payrolls gain was larger than the 195,000 level
expected by analysts and the 190,000 gain expected by the whisper
number, rising 213,000 after a net upward revision of 37,000 in the
previous two months, data released by the Bureau of Labor Statistics
Friday showed.
However, the unemployment rate rose to 4.0% in June from the 3.8%
rate posted in May, adding some complexity to the picture presented by
the data.
--UNEMPLOYMENT RATE UP TO 4.0%
The unemployment rate rose back up to 4.0% after dipping to 3.8% in
May, above expectations for the rate to hold steady at 3.8% in June.
When seen unrounded, the rate rose to 4.048%, so it was very close to
reaching 4.1%. The labor force participation rate rose to 62.9% in June
from 62.7% in May, explaining part of the unemployment rate rise as
workers entered the labor force, but did not immediately find jobs.
The labor force rose by 601,000 after a scant 12,000 gain last
month. Household employment rose by only 102,000 in June, overwhelmed by
a 499,000 surge in the number of unemployed.
--HOURLY EARNINGS SOFTER THAN EXPECTED
Average hourly earnings rose 0.2% in June after an unrevised 0.3%
rise in May, smaller than the 0.3% gain expected by both analysts and
the markets. Before rounding, June hourly earnings were up 0.186%, on
the low side of 0.2% and even further below the forecasted rate.
Hourly earnings now stand 2.7% above its year ago level, the same
as in May, but wage growth is still lagging behind levels usually seen
with this tight of a labor market.
The overall average workweek stayed at 34.5 hours for yet another
month, but the combination of earnings and hours worked should remain a
positive factor for personal income growth in June.
--RETAIL PAYROLLS DIP
For June, there were solid gains for manufacturing (+36k), health
care (+35k), professional and business services (+50k), and leisure
(+25k ahead of the summer season), but retail payrolls -22k, the glaring
weakness.
** MNI Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,M$U$$$,MAUDR$,MT$$$$]
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.