US non-farm payroll employment grew 209k in June, slightly below expectation of 220k. That’s the lowest level since December 2020. That compares to average of 278k per month over the first 6 months of the year.
Unemployment rate dropped from 3.7% to 3.6%, below expectation of being unchanged at 3.7%. Number of unemployed person was little changed at 6m. Labor force participation rate was unchanged at 2.6% for the fourth consecutive month.
Average hourly earnings rose 0.4% mom, above expectation of 0.3% mom. Average workweek edged up by 0.1 hour to 34.4 hours.
