Nonfarm payrolls rise 147,000 in the month

Labor Market Overview - June job additions were better than expected, with 147,000 jobs added [2] - The unemployment rate stands at 41%, equaling the rate in February [3] - Labor force participation decreased slightly to 623% [6] Earnings and Hours - Average hourly earnings increased by 02%, falling short of the expected 03% [3] - Year-over-year average hourly earnings were 37%, the lowest yearly rate since July of last year [4] - Average weekly hours worked were 342%, matching the rate in February [5] Economic Indicators - Initial jobless claims dropped by 4,000 to 233,000 [7] - Continuing claims are at 1964 million, comparable to 2021 levels [7] - The trade balance for May shows a deficit of 715 billion [7] Market Reaction - The positive job report and revision caused a rise in yield [8] - Dow futures more than doubled, indicating a positive market response [9] - The report raises questions about the need for economic easing [10]