US NFP Surges by 4.8 M in June

The US Non-Farm Payrolls report (NFP) released by the United States Bureau of Labor Statistics on Thursday increased by 4,800,800 in June, compared to an increase of 2,699,00 for May. This number is better than the market forecast; the market expected 3,000,000.

Other details of the release indicated that the unemployment rate fell to 11.1% from 13.3% in May, and the labour force participation rate improved to 61.5% from 60.8%.

The initial market reaction saw the US dollar index drop 0.28% to 96.88, with the S&P 500 futures rising 1.3%.