US nonfarm payrolls below expectations

US nonfarm employment increased by 209,000 in June, below expectations.

Average hourly wages in the US rose 0.4 percent in June, below expectations. Expectations were for hourly wages to rise 0.3 percent.

The job gain, which was announced as 339,000 last month, was revised to 306,000.​ ​

UNEMPLOYMENT DECREASED BY 0.1 POINTS

The US unemployment rate decreased 0.1 percentage point to 3.6 percent in June.

The unemployment rate, which was in line with market expectations, was 3.7 percent in May.

The number of unemployed in the country decreased by 140,000 in June to 5 million 957 thousand. The labor force participation rate, on the other hand, was unchanged at 62.6%, the highest level since March 2020.

AVERAGE WORKING HOURS INCREASES TO 34.4

While average weekly work hours rose to 34.4, average hourly earnings, closely watched by the US Federal Reserve (Fed), rose 0.4 percent to $33.58.

Market expectations were for average hourly earnings to rise 0.3 percent during the period in question. (REUTERS, AA)