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7/5, 2:30 PM (Source: TeleTrader)
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US nonfarm payrolls rise by 224,000 in June

Nonfarm payroll employment in the United States exceeded expectations as it increased by 224,000 in June, the US Bureau of Labor Statistics reported on Friday, while the previous month's figure was revised downward to 72,000. The unemployment rate ticked up from 3.6% to 3.7%.

Average hourly wages rose 3.1% compared to the same month a year earlier and slightly less than projected. Meanwhile, among the major worker groups, there was little or no change last month in the unemployment rates, the report noted, with 3.3% recorded among both adult men and women and 12.7% among teenagers.

The labor force participation rate at 62.9% was little changed.

Breaking the News / JC