U.S. Job Growth Exceeds Expectations in June, But Signals Potential Cooling in Labor Demand

Mumbai, 05 Jul (Commoditiescontrol): The U.S. economy added more jobs than anticipated in June, although the figure was lower than the previous month, indicating a potential cooling in labor demand in the world's largest economy.

Nonfarm payrolls increased by 206,000 in June, down from 218,000 in May, according to Labor Department data released on Friday. The May figure was also significantly revised from an initial estimate of 272,000.

Economists had projected the June number to be 191,000.

Meanwhile, the unemployment rate edged up to 4.1%, surpassing expectations that it would remain at the May level of 4.0%. Month-over-month average hourly wage growth also slowed slightly to 0.3% from 0.4%, aligning with estimates.

(By Commoditiescontrol Bureau; +91-9820130172)