USA Payroll Growth and Unemployment Update

June nonfarm payrolls rose by 57k, missing expectations, while the unemployment rate fell to 4.19% due to a sharp decline in labor force participation. Wage growth remained steady at 0.35% month-over-month.

Key Takeaways

• 1.June nonfarm payrolls rose by 57k, significantly below market expectations.
• 2.The unemployment rate fell to 4.19%, largely driven by a substantial 720k contraction in the labor force.
• 3.Labor force participation among workers aged 25-34 saw its largest one-month drop since the pandemic.

Table of Contents

• BOTTOM LINE
• US MAP
• KEY NUMBERS
• MAIN POINTS

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