US Employment Growth Lower Than Expected

The US economy created 209,000 jobs in June. The figure is lower than expected, according to the US Bureau of Labor Statistics reports, which emphasize that 306,000 new jobs were created in May, while 240,000 new jobs were projected last month. Instead, the April figure was adjusted to 216,000.

In general, the data on unemployment is positive, falling from 3.7% to 3.6%, in line with expectations. The US labor market remains steady, with hourly wages up 4.4% y/y, and hours worked are also on the rise.

Now we are waiting to see what the Federal Reserve’s intentions are and whether it will continue its high interest rate policy.