U.S Jobs Data June 2013 - Highlights

U.S. Unemployment rate chart 2013

U.S. jobs data for the month of June 2013 came in better than expectation and strangely pushed both bond yields and stocks higher on 5th July, a rare event when both bonds and stocks move in same direction. Stocks are inversely correlated with bonds and usually goes up when bond yield falls and vice versa.  

CBOE 10-year yield on T Note rose to the highest in almost two years at 2.72% while S&P 500 closed 1 percent higher on Friday. 

Following are the important highlights of the jobs data:

  • U.S. jobless rate close to a four-year low in June 2013
  • Payrolls rose by 195,000 workers against the forecast of 165,000
  • Factories reduced payrolls by 6,000
  • Construction companies added 13,000
  • Automakers increased employment by 5,100
  • Retailers added 37,100 jobs
  • The unemployment rate in June remained constant at 7.6% over previous month

No comments:

Post a Comment

Popular Posts