June US non-farm payrolls
- Prior was 138K (revised to 152K)
- Two-month net revision +47K
- Private payrolls +187K vs +170K exp
- Manufacturing payrolls +1K vs +5K exp
- Unemployment rate 4.4% vs 4.3% exp
- Participation rate 62.8% vs 62.7% exp
- Prior participation rate 62.7%
- Underemployment rate 8.6% vs 8.4% prior
The jobs numbers and revisions are more good news for the US economy but it's the same paradigm we've had for more than a year and it hasn't resulted in great growth or rising inflation.
The details of the wage numbers within the report are disappointing once again. As a result, the US dollar is lower across the board on the headlines.