Breaking: US Nonfarm Payrolls rise by 147,000 in June vs. 110,000 expected
Nonfarm Payrolls (NFP) in the United States (US) rose by 147,000 in June, the US Bureau of Labor Statistics (BLS) reported on Thursday. This reading followed the 144,000 (revised from 139,000) increase recorded in May and came in better than the market expectation of 110,000.
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Other details of the employment report showed that the Unemployment Rate edged lower to 4.1% from 4.2%, while the Labor Force Participation Rate ticked down to 62.3% from 62.4%. Finally, annual wage inflation, as measured by the change in the Average Hourly Earnings, retreated to 3.7% from 3.8% in May. This print fell short of analysts' estimate of 3.9%.
Market reaction to Nonfarm Payrolls data
TheUS Dollar Indexshot higher with the immediate reaction to the upbeat employment data and was last seen rising 0.6% on the day at 97.35.
US Dollar PRICE Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar.
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
This section below was published as a preview of the US Nonfarm Payrolls data at 05:00 GMT.
The all-important United States (US)Nonfarm Payrolls (NFP) datafor June will be released by the Bureau of Labor Statistics (BLS) on Thursday at 12:30 GMT.
The June employment report will be closely scrutinized to gauge the timing of the US Federal Reserve’s (Fed) next interest rate cut and the direction of the US Dollar (USD), whichtrades close to three-and-a-half-year lows against its major peers.
What to expect from the next Nonfarm Payrolls report?
Economists expect Nonfarm Payrolls to rise by 110,000 in June after reporting a 139,000 increase in May. The Unemployment Rate (UE) will likely tick higher to 4.3% during the same period, following May’s 4.2%.
Meanwhile, Average Hourly Earnings (AHE), a closely watched measure of wage inflation, are expected to rise by 3.9% year-over-year (YoY) in June, at the same pace as seen in May.
Previewing the June employment report, TD Securities analysts said: “We expectNFPjob gains moderated to 125K in June. Homebase data suggest a similar deceleration in gains as in May. We also expect the UE rate to tick up to 4.3% as continuing claims have risen between reference weeks.”
“Last month just rounded down to 4.2%. AHE likely moderated to 0.2% MoM from 0.4% (3.8% YoY). Leading indicators suggest downside risks to employment data in June.,” they added.
How will US June Nonfarm Payrolls affect EUR/USD?
Amidst renewed concerns over US President Donald Trump’s ‘big, beautiful’ spending bill and tariffs, the US Dollar wallows near the lowest level since February 2022 against its major currency rivals.
Markets pondered the prospects of the Fed rate cuts, especially afterChairman Jerome Powell’s cautious remarksatthe European Central Bank (ECB)Forum on central banking in Sintra on Tuesday.
Powell noted that “we're taking time, for as long as the US economy is solid, the prudent thing is to wait."
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