Job generation in the United States picked up in June, but this was not enough to stop a slight growth in the unemployment rate, the Bureau of Labor Statistics reported.
- Nonfarm payrolls grew by 850,000, with gains recorded in leisure and hospitality, education, professional and business services, retail trade, and other services. Part-time workers fell by 644,000 to 4.6 million.
- Unemployed persons stood at 9.5 million, equivalent to an unemployment rate of 5.9% which is slightly higher than 5.8% in May. Both remain above the levels prior to the COVID-19 pandemic.
- Some 6.2 million persons were unable to work due to business closures, while 1.6 million were prevented from looking for job opportunities due to the pandemic. Some 617,000 believe that there were no jobs available.
The labor force participation rate was unchanged at 61.6%, bringing the ratio of employment to the population at 58.0%.
DXY is down 0.02%, while gold is up 0.46%.