Employment Situation Released On 7/3/2014 8:30:00 AM For Jun, 2014 Prior Prior Revised Consensus Consensus Range Actual Nonfarm Payrolls - M/M change 217,000 224,000 211,000 199,000 to 290,000 288,000 Unemployment Rate - Level 6.3 % 6.3 % 6.2 % to 6.3 % 6.1 % Average Hourly Earnings - M/M change 0.2 % 0.2 % 0.2 % to 0.3 % 0.2 % Av Workweek - All Employees 34.5 hrs 34.5 hrs 34.5 hrs to 34.6 hrs 34.5 hrs Private Payrolls - M/M change 216,000 224,000 210,000 195,000 to 285,000 262,000 Highlights The labor appears to be gaining momentum. Total nonfarm payroll jobs increased 288,000 in June after a 224,000 gain in May and a 304,000 rise in April. The net revision for the prior two months was up 29,000. The consensus forecast for June was for 211,000.
The unemployment rate surprisingly fell to 6.1 percent from 6.3 percent in May. Expectations were for 6.3 percent.
Turning back to the payroll report, private jobs gained 262,000 after a 224,000 boost the month before. Analysts forecast 210,000. Government jobs jumped 26,000 after being flat in May.
Average weekly hours were unchanged at 34.5 hours, matching expectations. Growth in average hourly earnings held steady at 0.2 percent and also matching the consensus.
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