Breaking News: DJIA rallies on NFP beat of 37,000, unemployment falls to 4.1%

• Nonfarm Payrolls June (NFP), +147k vs. +110k expected, beat of +37,000
• Average Monthly Earnings June (YoY), +3.7% vs. +3.9% expected, miss of -0.2%
• Average Monthly Earnings June (MoM), +0.2% vs. +0.3% expected, miss of -0.1%
• Unemployment Rate June, 4.1% vs. 4.3% expected, beat of 0.2%

Breaking: The US Economy added +147,000 jobs in June, beating expectations by +37,000. Monthly unemployment also fell to 4.1%, its lowest level since March.

As part of the same release, average monthly earnings rose by 0.2% MoM and 3.7% YoY, both falling short of consensus.

Key takeaway: The US labor markets is healthier than previously thought, reducing rate cut bets.

Total nonfarm payroll employment increased by 147,000 in June, and the unemployment rate changed little at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in state government and health care. Federal government continued to lose jobs.

Employment Situation Summary, Bureau of Labor Statistics, 03/07/2025

In the minutes following the release, the DJIA trades 0.17% higher, extending daily gains, while the S&P 500 and Nasdaq-100 trade 0.23% and 0.31% higher respectively.

Otherwise, the dollar (DXY) has rallied 0.5%, while gold (XAU/USD) has fallen 0.91%.

Markets now look towards further US economic releases today:

• 09:45 EDT, S&P Global Composite PMI June
• 10:00 EDT, ISM Services PMI June
• 10:00 EDT, ISM Services Prices Paid June
• 10:00 EDT, ISM Services New Orders Index June
• 10:00 EDT, ISM Services Employment Index June
• 10:00 EDT, Factory Orders May (MoM)
• 11:00 EDT, Fed Raphael Bostic Speech