Nonfarm payrolls rise 559,000 in May, below expectations

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The May US employment report showed job creation below expectationsivas. The economy created 559,000 jobs, lower than the market consensus of 650,000. There was also some expectation of higher numbers considering the latest labor market data released on Thursday. The April numbers were revised up from 266,000 to 278,000.

Thus, there are still 7.6 million jobs less than the February 2020 peak. May was the fifth consecutive month with positive job creation. The unemployment rate expected to fall from 6.1% to 5.9%, fell to 5.8%. While the labor force participation rate it dropped from 61.7% to 61.6%.

Regarding income, the hourly average increased 0.5% in May, beating the consensus of 0.2%, and with respect to a year ago they rose 2%, being that a fall of 0.4% was expected.

The dollar the market fell back, setting new lows on all fronts, Wall Street futures rose and metals regained ground. The April factory orders report will be released at 14:00 GMT, but it is not expected to have a big impact on the market.


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