The growth of the American labor market continued to slightly slow in May, but not enough to force an increase in the unemployment rate.
On Friday, the non -agitated payroll increased by 139,000, according to the Bureau of Labor Statistics report. Economists’ forecasts called for 130,000 gains and employment growth in April was 147,000 (revised compared to 177,000 originally).
The unemployment rate in May was 4.2% compared to expectations of 4.2% and 4.2% of April.
In the middle of a solid rebound after yesterday’s sharp declines, the price of bitcoin
increased a little further after the news to just over $ 104,000.
Always a closely followed impression, the May pay data was particularly important this time, because a series of economic relationships stressed this week an increasing economic weakness. Among them, the growth of the slowest ADP jobs in more than two years, the ISM services slipping in levels suggesting an economic contraction and an increase in the first claims of unemployment at the highest level since October.
Almost 4.50% at the start of the week, the yield of the US Treasury at 10 years old slipped up to 4.32% and the chances of a drop in summer Fed rates had increased significantly before this morning report. In the minutes that followed the printing, the yield at 10 years went up to 4.44% and the chances of a July Fed rate dropped to only 16% compared to 30%, according to CME Fedwatch.
Looking further, the chances of one or more rate drops by the September meeting of the Fed fell to 65% against 75%.
The term contracts on the American stock market index added to the previous gains, the NASDAQ in advance by 0.8% and S&P 500 0.75%.
By checking the other details of the report, the average hourly profits increased by 0.4% in May compared to estimates of 0.3% and 0.2% of April. Over one year on the other, average hourly profits were higher 3.9% against forecasts of 3.7% and 3.9% of April.
