US Employment Data: Markets React to Mixed Results

Investing.com – The key US employment data that markets have been anticipating for days is now out, giving an overview of the period ahead.

Employment data came this time higher than experts’ expectations, and higher than the previous month’s figures, which motivates the Fed to tighten monetary policy for the coming period because the labor market is still strong.

However, unemployment rose which indicates weakness in the labor market, thus this may prompt the Fed to ease the pace of monetary tightening.

We conclude from this that today’s data was mixed, as it indicates the strength of the labor market in terms of adding more jobs, while also indicating its weakness after the unemployment rate rose compared to expectations and also compared to the previous reading.

The markets interacted with the release of the data, as gold rose / declined, after they were stable.

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For the month of May, while experts expected an addition of 180 thousand only, the previous reading was revised to record 294 thousand instead of 253 thousand.

While there were 283 thousand jobs in May, and expectations indicated an addition of only 160 thousand, and the previous reading was revised to record 253 thousand instead of 230 thousand.

On the other hand, it increased by 3.7% in May. While expectations were for an increase of only 3.5%, while the rate rose by 3.4% compared to the previous reading.

It increased by 0.3% in April, while expectations were for a rise of 0.4%, and the previous reading was revised to record 0.4% instead of 0.5%. As for Ali, it rose by 4.3%, which is what experts expected, but the March reading was 4.4%.

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It rose by 0.05% to 103.55 points.

While it decreased by 0.2% to 1991 dollars an ounce.

It fell by 0.17% to $1,974 an ounce.