uploads/2018/07/word-cloud-1758159_1280.png

June Jobs Report: 213,000 Jobs Added, Beats Expectation

By

Updated

June jobs report

After uncertainty in the US economic environment in the first half of 2018, all eyes are now on the second half. The first half was challenging for investors due to rising concern over interest rate hikes and trade tensions between the United States (SPY) and China (FXI).

Major US economic indicators (QQQ) are getting stronger. Inflation, economic growth, and the condition of the labor market have been improving. All these indicators are strengthening investor confidence despite significant trade uncertainty.

Article continues below advertisement

Now it’s important for investors to look at the performance of the US labor market in June. The US non-farm payroll figure for June improved at a marginally slower rate than the previous month. In June, 213,000 jobs were added compared to 244,000 in May. It beat the market expectation of 195,000 jobs.

Impact on the markets

The broader market S&P 500 Index (SPY), the Dow Jones Industrial Average Index (DIA), and the Nasdaq Composite Index (QQQ) rose 0.85%, 0.41%, and 1.34%, respectively, on Friday, July 6, after the announcement of the non-farm payroll report. Despite China’s fresh imposition of a retaliatory tariff on US products, the major US indexes ended the day with positive returns.

In this series, we’ll analyze in detail the performance of the US ADP Jobs Report and the US non-farm payroll report for June.

Advertisement

More From Market Realist