US Non-Farm Payroll employment increased by 206k in June, above expectation of 180k. Growth was slightly lower than average monthly gain of 220k over the prior 12 months.
However, prior month’s growth was revised sharply lower from 272k to 218k. April’s figure was also revised sharply lower by -57k to 165k. That is, April and May’s combined downward revision was -111k.
Unemployment rate ticked up from 4.0% to 4.1%, above expectation of holding steady at 4.0%. Unemployment rate also rose slightly from 62.5% to 62.6%.
Average hourly earnings rose 0.3% mom, matched expectations. Annual hourly earnings growth slowed from 4.0% yoy to 3.9% yoy.
