Analysts say the number of jobs is higher than expected.

[fundos]

Analysts say the number of jobs is higher than expected. Does not cause the Fed to accelerate interest rates

Analysts stated that Disclosure of the number of non-farm payrolls that rose more than expected today. Will not cause the US Federal Reserve (Fed) to accelerate interest rate hikes.

“Although wage pressure is increasing, and the US labor market is recovering. But it's not hot enough for the Fed to tighten its monetary policy," said Hugh Gimber, analyst at JPMorgan Asset Management.

"Today's data will not change the view of the Fed," said Aberdeen Standard Investments economist James McCann. The rebound of the labor market is already predicted. The increase in employment signals to the Fed that companies are successful in recruiting workers. This will ease concerns about the prolonged hike in wages.”

Analysts have said investors will look forward to the release of the minutes of the June Fed meeting that will be released next week. including reporting on listed companies' second-quarter earnings and progress in President Joe Biden's push for infrastructure legislation.

The US Department of Labor reported that Non-farm payrolls increased by 850,000 in June. That was higher than analyst estimates for a 706,000 gain.

The unemployment rate rose to 5.9 percent in June, contrary to analysts' expectations for a decline of 5.6 percent after hitting 5.8 percent in May.

The US Department of Labor has also adjusted the number of jobs in May. increased to 583,000 from the previously reported increase of 559,000 and adjusted the number of jobs in April. increased to 269,000 positions from the previously reported 278,000 increase.

The US Department of Labor said in June The private sector added 662,000 jobs, while the government added 188,000.

Meanwhile, the average hourly wage for workers rose 0.3% year-on-year.

The hourly wage figure is a key focus of the US Federal Reserve (Fed) for signs of inflation.

As for the number of US labor market entry rates which shows the ratio of the labor force to the total population stable at 61.6%

[Rickfap]

That's great.