- Prior month 26.7K
- Employment change -1.4K vs 22.5K estimate
- Unemployment rate 6.4% vs 6.3% estimate.
- Prior month employment rate 6.2%
- Full-time employment -3.4K vs -35.6K last month
- Part-time employment 1.9K vs 62.4K last month
- Participation rate 65.3% vs 65.4% last month
- Average hourly wages YoY 5.60% vs 5.20% last month
Weaker than expected job gain but the unemployment rate moves higher.
Other highlights from the report:
- The employment rate fell 0.2 percentage points to 61.1%.
- The unemployment rate increased 0.2 percentage points to 6.4% in June and has risen 1.3 percentage points since April 2023.
- Employment fell among young men aged 15 to 24 (-13,000; -0.9%) but increased for core-aged women (aged 25 to 54) (+19,000; +0.3%).
- Declines were seen in transportation and warehousing (-12,000; -1.1%) and public administration (-8,800; -0.7%).
- Increases were noted in accommodation and food services (+17,000; +1.5%) and agriculture (+12,000; +5.5%).
- Employment declined in Quebec (-18,000; -0.4%) but increased in New Brunswick (+3,000; +0.8%) and Newfoundland and Labrador (+2,600; +1.1%).
- Total hours worked were down 0.4% in June, but up 1.1% year-over-year.
- Average hourly wages among employees increased 5.4% in June year-over-year, following 5.1% growth in May (not seasonally adjusted).
- The employment rate for returning students aged 15 to 24 was 46.8% in June, down from 51.7% a year earlier (not seasonally adjusted).
This article was written by Greg Michalowski at www.forexlive.com.
Source link
