Employment in the US Exceeds Expectations in June

Non-farm employment in the US increased by 206,000 in June, surpassing expectations, while the unemployment rate rose from 4% to 4.1%.

The US Department of Labor has released the employment report for June. According to the report, non-farm employment in the country increased by 206,000 in June.

The non-farm employment data, which exceeded market expectations, was projected to increase by 190,000.

During this period, employment increased in the public, health, social assistance, and construction sectors.

Revisions were made to the non-farm employment figures for April and May. Accordingly, the increase in non-farm employment was revised downwards from 165,000 to 108,000 for April and from 272,000 to 218,000 for May.

Unemployment Rate Rose
The unemployment rate in the US increased by 0.1 percentage points to 4.1% in June, reaching its highest level since November 2021.

The unemployment rate, which exceeded market expectations, was projected to remain at 4% as in May.

The number of unemployed people increased by 162,000 in June, reaching 6.811 million. The labor force participation rate increased by 0.1 percentage points to 62.6%.

During this period, the average weekly working hours remained unchanged at 34.3 hours.

Average hourly earnings, closely watched by the US Federal Reserve (Fed), increased by 0.3% as expected, reaching $35.

source: prepared by Melisa Beğiç

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