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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 less than experts’ expectations, and less than the previous month’s numbers, which motivates the Fed to ease its tightening monetary policy for the coming period because the labor market is getting weaker.
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However, the unemployment rate slowed compared to the previous month and the wage rate rose, which indicates the strength of the labor market, and therefore this may stimulate the Fed towards continued monetary tightening.
We conclude from this that today’s data was somewhat conflicting, as it indicates a weakness in the labor market with regard to adding more jobs, while also indicating its strength after the unemployment rate slowed down compared to the previous reading and the average wages rose, but the unemployment rate came in line with expectations along with a slight increase. in the wage rate, and therefore the markets interacted mainly with the employment data, as it consolidated its gains, while deepening its losses.
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For the month of June, while experts expected an addition of 225 thousand, and the previous reading was revised to record 306 thousand instead of 339 thousand.
While there were 149 thousand jobs in June, and expectations indicated an addition of 200 thousand, and the previous reading was revised to record 259 thousand instead of 283 thousand.
On the other hand, it recorded 3.6% in June. In line with expectations, while the rate rose from the previous reading by 3.7%.
It increased by 0.4% in June, while expectations were for a rise of 0.3%, and the previous reading was revised to 0.4% instead of 0.3%. As for Ali, it rose by 4.4%, while expectations were for a rise of 4.2%. However, the May reading was revised to 4.4%.
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It fell by 0.35% to 102,520 points.
While it rose by 0.6% to 1926 dollars an ounce.
It rose 0.5% to $1,921 an ounce.
2023-07-07 12:32:00
#Breaking #Employment #Data #Misses #Expectations #Markets #Move #Investing.com
