US non-farm payroll employment rose 372k in June, well above expectation of 250k. That’s in line with the average monthly gain over the prior three months at 383k. Total non-farm employment was still down by 524k, or -0.3%, from pre-pandemic level in February 2020.
Unemployment rate was unchanged at 3.6%, matched expectations. Number of unemployed persons was essentially unchanged at 5.9m, comparing to prepandemic level at 5.7m in February 2020. Labor force participation rate ticked down form 62.3% to 62.2%.
Average hourly earnings rose 0.3% mom, matched expectations.
