U.S. labor market data for June revealed that the unemployment rate fell to 3.6%, compared with about 3.7% in May, which is a sign of the continued strength of the labor market, and raises the prospects for higher interest rates at the next Federal Reserve meeting.
Data released on Friday showed that the US economy added 209 thousands of jobs in June, compared with 230 thousand expected by analysts, and 339 thousand jobs in May. On a monthly basis, wages rose 0.4% in June, above forecasts of a 0.3% increase.
The May job market was surprising in terms of increases in payroll numbers. Employers added 339 1,000 jobs against expectations of 195 thousand, and the unemployment rate during the same month rose unexpectedly to 3 .7%, from a decades-long low at 3.4% in April.
