American Employment Sees Stellar Growth in June

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The American jobs market, as revealed by reports today and over the past few weeks , appears to be in a period of stellar growth. Despite the pessimism running rampant throughout global markets, and despite the severe downturn in US stocks this week, jobs appear to be returning in larger numbers.

The results from today's Non-Farm Payrolls ( NFP ) data highlighted a significant uptick in US job growth . Expectations were for the creation of approximately 89,000 new jobs. The report stated, in fact, that around 117,000 new jobs were formed over the past month instead. On top of the NFP report, Wednesday's ADP data on the private sector also showed similar growth, and Thursday's unemployment claims grew less than forecast.

The unemployment rate also declined from 9.2% to 9.1% alongside a 0.4% bump in average hourly earnings, month-on-month. Though many investors appear to be anticipating a return to recession, the summer employment reports don't seem to confirm this view. One of these outlooks is lagging behind the other; which one it is will be the question everyone asks at the start of next week.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

Referenced Stocks: NFP

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