Today is the ‘NFP day’, when will find out news about the US labor market and new unemployment rate for July. US unemployment rate rose to 4.4% in June 2017 from the previous month’s 16-year low of 4.3% and above market expectations of 4.3%. The number of unemployed persons was little changed at 7 million while the labor force participation rate edged up to 62.8%.
If we take a look at the 10 year chart, we can see how the unemployment rate returned in the levels of 2007 and how it was falling since 2009/2010 from 10% to 4.3% in May 2017, which was the 16 year low data. Previous month was a little surprise with 4.4% unemployment rate and we will see today is that a new trend and possible reversal up, which can be trouble for the US dollar and for the furder FED’s monetary policy tightening or rate hikes. On the other side, current data and this 10 year chart shows that the US economy closes in on full employment, if it isn’t there already.
For the full US Bureau of labor statistic data from previous month, please click here
For more datas and charts, go to tradingeconomics.com or click here