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1.763m in July non-farm payrolls beats estimates although recovery slows

The US Bureau of Labour statistics announced non-farm payrolls growth of 1.8m in July, beating consensus expectations for 1.6m, although it suggests a slowing labour market recovery following June’s gain of 4.8m. Markets took the news with mild positivity with S&P 500 e-mini futures moving higher by about 20bps, while yields on US 10 year

US non-farm payrolls smashes consensus for 2nd month in a row

Today, the US Bureau of Labour Statistics’s data showed that 4.8m Americans found work in the month to 12 June, whilst last month’s release was revised upwards to 2.7m from 2.5m. The report significantly cleared consensus expectations of jobs growth of 3m and caused European stock bourses to surge almost 1% higher in reaction to