US Non-Farm Employment Change

The decline in US nonfarm payrolls (NFP) to 57,000, compared to the expected 114,000, along with a notable downward adjustment of last month’s figures to 129,000 from 172,000, indicates that job growth in the US has slowed and did not increase as much as previously estimated. Surprisingly, the unemployment rate dropped from 4.3 percent to 4.2 percent. The unemployment report paints a mixed picture, clearly suggesting a slowdown in momentum and a weakening in hiring. However, wage growth, coupled with the lower unemployment rate, ...

June's gain of 57,000 jobs failed to meet economists' expectations, with payroll growth cooling after months of growth. Still, the labor market appeared to be on steady footing, with the unemployment rate sliding to 4.2%. But look under the hood of Thursday's jobs report, and there's some evidence that this remains a tough — or at least weird — labor market for job-seekers. Long-term unemployment — the measure of those who have been out of work at least 27 weeks as a share of the total number of jobless people — dipped a tad in June ...

The US job market stumbled in June and wasn’t quite as solid as previously believed over the prior two months. The result drove down shorter-term US Treasury yields and reduced OIS contract pricing for hikes with the September contract now down 10bps from the full hike pricing back on September 22nd. Payrolls increased by 57k in June which was close to my below-consensus 90k call and vastly weaker than some of the outliers to the high side. Details were weak. Breadth of hiring activity was poor (chart 1). The goods sector added just ...

Silver climbed to the top of its weekly range as a weaker US Nonfarm Payrolls report pulled the US Dollar to a two-week low. XAG/USD was trading near $61.15, up almost 3.50% on the session, after the Bureau of Labor Statistics reported 57K jobs added in June versus expectations of 110K. May payrolls were revised down to 129K from 172K, while the Dollar index stood around 100.74 after easing from an intraday high of 101.43. Rate expectations adjusted quickly, with the CME FedWatch Tool showing September hike odds at 51% versus 63% ...

Silver prices rallied on Thursday after disappointing US employment data triggered broad selling in the US dollar, allowing the precious metal to recover from recent weakness. XAG/USD is currently trading around $61.10 per ounce, rebounding strongly after the US economy added far fewer jobs than economists had expected in June. The move helped silver recover toward the upper end of this week’s trading range after recently hitting its lowest levels in several months. The rally follows one of silver’s weakest periods this year, with ...

As the trading week approaches its close, gold is showing a relevant short-term recovery. XAU/USD is up more than 2.00% and is trading back above the 4,000 dollars per ounce area, supported by a weaker US dollar after the NFP release. For now, this move has allowed gold to recover ground, especially as substitute assets, such as the dollar, show signs of weaker momentum. If this dynamic continues, buying pressure could remain relevant over the next few trading sessions. During today’s session, the United States published its NFP ...

The luster fell a bit off the employment rose in June with nonfarm payrolls rising 57,000 against expectations of a 115,000 increase, according to today’s report from the Bureau of Labor Statistics. Moreover, the increases previously reported for April and May were revised down by a total of 74,000. Upon revision, payrolls increased 148,000 in April versus 179,000 previously reported and rose 129,000 in May versus 172,000 previously reported. The average increase over the past three months fell to 111,000 from 164,000 in May while ...

Silver (XAG/USD) climbs to the top of its weekly trading range on Thursday as the US Dollar (USD) slides to a two-week low after US Nonfarm Payrolls (NFP) data surprised to the downside. At the time of writing, XAG/USD trades around $61.15, up nearly 3.50% on the day. Data released by the US Bureau of Labor Statistics (BLS) showed the US economy added just 57K jobs in June, well below market expectations of 110K. Meanwhile, May's payrolls were revised down to 129K from the previously reported 172K. Traders quickly scaled back ...