GOVERNMENT REPORT SERIES
Payroll employment rises by 372,000 in June; unemployment rate remains at 3.6%. Total nonfarm payroll employment rose by 372,000 in June, and the unemployment rate remained at 3.6 percent. Notable job gains occurred in professional and business services, leisure and hospitality, and health care.
Market context
The economy was expected to have added 250,000 jobs in June, a strong number though lower than the 390,000 in May. Wall Street indexes swing but slightly up Friday morning after a stronger than forecast US jobs report.
Following Friday’s jobs report and as expected, traders are betting the Fed will raise the target for its short-term interest rate by at least three-quarters of a percentage point at its meeting later this month.
