(Finance) – Non-farm payrolls are above expectations June 2024, a widely observed indicator for understanding the health of the US labor market. According to data provided by the Bureau of Labor Statistics, the unemployment rate rose to 4.1%, compared to 4% in the previous month and the consensus.
206 thousand have been added non-agricultural jobs (non-farm payrolls), after 218,000 payrolls were created in May (revised from 272,000). The employment data, more closely watched than the unemployment rate, is higher than market expectations, which indicated an increase of 191,000 jobs.
The data is lower than expected in private sector: 136 thousand jobs were created, against the 193 thousand revised in May and the 160 expected by the market.
The employed of the manufacturing sector they fell by 8 thousand units, against an increase of 6 thousand units estimated by the consensus and are compared with the 8 thousand of the previous month.
The average hourly wages stood at $35, up 0.3% month-on-month and 3.9% year-on-year (versus expectations of +0.3 m/m and +3.9% y/y) after a +0.4% month-on-month and +4.1% y/y increase in May. Average hourly earnings are closely monitored by the Federal Reserve as a good indicator of both the health of the labor market and inflationary pressures.