US: Continued moderate job losses |
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Overview: In June the employment report continued to print moderate job losses consistent with a nearly stagnant, but not recessionary, US economy. The economy shed 62,000 jobs (DB -50,000, Consensus - 60,000) in June and on top of this the employment figures for the previous months were revised down by 52,000. Hence, the report included a total loss of jobs of 114,000 persons. Moreover, the unemployment rate failed to move lower keeping its level of 5.5% in June. Wage moderation continues.
Filed under: Fundamental
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