Bloomberg: U.S. Economy: Private Payrolls Grew Less Than Forecast in June
By Joshua Habben, Research & Risk Analyst | Friday, July 2nd, 2010 18:02 UTC
US Non-Farm Employment Change disappoints at -125,000, turning negative once again and worse than forecast. The Unemployment Rate improved to 9.5 percent due to a smaller labor force.
The Forex market was not significantly moved by the news. US equities were flat on the open, but now negative for the day.
Private employers added fewer workers to payrolls in June than forecast, reinforcing concerns the recovery will weaken as Americans curtail spending.
Employment at companies rose 83,000, less than the 110,000 gain forecast by economists in a Bloomberg News survey. Including government, payrolls fell for the first time this year because of a drop in federal census workers. The jobless rate dropped to 9.5 percent from 9.7 percent as the labor force shrank, the Labor Department reported today in Washington.
Read the full article on Bloomberg.com
U.S. Economy: Private Payrolls Grew Less Than Forecast in June
July 2nd, 2010
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