U.S. job growth in June was half of what the market expected.
The U.S. Department of Labor said on the 2nd (local time) that nonfarm payrolls in June increased by 57,000 from the previous month. That is below the market forecast of about 110,000.
By industry, professional and business services, social assistance, and the institutional sector of healthcare increased. In contrast, employment in leisure and hospitality fell. The employment boost from the North and Central America World Cup did not materialize.
The unemployment rate in June was 4.2%. Likewise, it was lower than the market expectation of 4.3%.
Average hourly earnings in June rose 0.3% from the previous month. Compared with the same month last year, they increased 3.5%.
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