U.S. payrolls increased by 147,000 in June, more than expected
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U.S. nonfarm payrolls increased by 147,000 in June, surpassing expectations of 110,000, while the unemployment rate fell to 4.1%, contrary to forecasts of a rise to 4.3%. Average hourly earnings rose by 0.2% for the month and 3.7% year-over-year, indicating low inflation pressures. Government employment led gains with 73,000 new jobs, particularly in education, while health care added 39,000 jobs. Stock market futures reacted positively, and Treasury yields rose sharply following the report.
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