US Nonfarm Payrolls Rise by 57K in June, Miss Expectations
US Nonfarm Payrolls increased by only 57K in June, well below the 110K consensus estimate. May's gain was revised down to 129K from 172K.
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The US Bureau of Labor Statistics reported that Nonfarm Payrolls rose by 57,000 in June, significantly below the market expectation of 110,000. This marks a sharp slowdown from the revised May increase of 129,000 (previously reported as 172,000).
The disappointing data suggests a cooling labor market, which may influence the Federal Reserve's policy stance. The miss could reinforce expectations of a rate pause or eventual cuts.
Source: FXStreet Forex News