US DATA: Jun employment report had few surprises, shows slow growth.

First Published Friday, 2nd July 2010 05:31 pm - © 2010 MNI News

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US DATA: Jun employment report had few surprises, shows slow growth. Payrolls -125k (incl -225k census and +83k private) and May-Apr rev +25k in total. Unemployment rate -0.2pt to 9.5% as labor force contracted -652k on seasonal adj. Hours & wages (all AHE -2c for +1.7% YOY) were modest, suggesting slow gains ahead in income & production. Jun payrolls were mixed: mfg +9K, construction -22k, retail -6.6k, transport +14.6k, financial -15k, leisure +37k, temp +20.5k, health +16.8k. Overall, not a robust report whose surprise drop in unemployment rate reflects more discouraged workers & caution entering the workforce. Details: Payrolls/Prior AHE,yoy Agg Hrs Civ Unempl Rt/Unrnd Jun -125k ---- +1.7% 99.1 9.5% (9.5115%) May +433k +431k ----- 99.0r 9.7% (9.6980%) Apr +313k +290k ----- 99.0r 9.9% (9.8633%)

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