Analyst: US Unemployment Rate Remains Stable, Concerns of Significant Slowdown in the Labor Market Set to Ease

BlockBeats News, June 6th: An institutional analyst commented on the US non-farm payroll report, stating that the unemployment rate remained stable, wage growth exceeded expectations, and hourly wages saw a slight increase. This will help alleviate concerns about a significant slowdown in the labor market. The May employment numbers exceeded the median forecast, but the cumulative downward revision for the previous two months was 95,000, which greatly offset the positive impact of May.

The analyst pointed out that the 8,000 decrease in manufacturing employment is not what the Trump administration would like to see. Undoubtedly, we will hear optimistic forecasts from the White House economic team, suggesting that as many companies, including Apple, commit to investment in the US, the situation will improve. (FXStreet)