June’s US Nonfarm Payrolls rise above expectations

Nonfarm Payrolls in the US rose by 372,000 in June, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading followed May’s increase of 384,000 (revised from 390,000) and came in better than the market expectation of 268,000. The Unemployment Rate remained unchanged at 3.6% as expected.

Further details of the publication revealed that the annual wage inflation, as measured by the Average Hourly Earnings, edged lower to 5.1% from 5.3% in May and the Labor Force Participation declined to 62.2% from 62.3.

As for the market’s reaction, the US dollar, the American currency gathered strength against its major rivals with the initial reaction and the US Dollar Index was last seen rising 0.32% on a daily basis at 107.38.