206,000! US non-farm payrolls sharply fell in June, with the unemployment rate rising to 4.1%, hitting the highest level in two and a half years

On the evening of July 5th, the U.S. Department of Labor released data showing that the U.S. added 206,000 non-farm jobs in June, significantly exceeding the expected 190,000, but still a significant decrease from the previous 272,000.The April non-farm job additions were revised down from 165,000 to 108,000; the May non-farm job additions were revised down from 272,000 to 218,000. After the revisions, the total non-farm job additions for April and May decreased by 111,000 from the pre-revision numbers.The unemployment rate rose to 4.1% in June, higher than the expected and previous value of 4%, reaching the highest level since November 2021.Average hourly wages in June rose by 0.3% month-on-month, meeting expectations but slightly lower than the previous 0.4%; the year-on-year growth rate was 3.9%, in line with expectations, falling below 4% for the first time since 2021.Meanwhile, the labor participation rate in June increased slightly from 62.5% in May to 62.6%, reversing the previous downward trend.The unexpected rise in the unemployment rate boosted expectations of a Fed rate cut. After the data was released, U.S. stock index futures rose in the short term.Nasdaq futures rose by 0.31%, S&P 500 futures rose by 0.15%, and Dow futures rose by 0.13%; U.S. Treasury yields declined, with the 30-year bond yield falling by over 6 basis points to 4.468%, and the 10-year bond yield falling by over 7 basis points to 1.292%. The U.S. dollar index fell in the short term, dropping by 0.27% intraday