US nonfarm payrolls come in well ahead of estimates

(Sharecast News) - US non-farm payrolls rose by 147,000 in June, according to the Bureau of Labor Statistics, following May's upwardly revised 144,00 print and well ahead of forecasts of 110,00. June's reading was also in line with the average monthly gain of 146,000 over the last 12 months and continued to point to a fundamentally resilient labour market.

Government employment rose by 73,000, despite the US federal government shedding 7,000 jobs last month, while the health care industry added 39,000 jobs.

The unemployment rate also fell, dropping by 0.1% to 4.1%, better than the 0.1% increase to 4.3% that economists had predicted.







Reporting by Iain Gilbert at Sharecast.com