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Friday, July 6, 2007

U.S. Payrolls Rose 132,000 in June; Unemployment Rate at 4.5%

" Employers in the U.S. added 132,000 workers to payrolls last month, wages grew and the unemployment rate held near a six-year low, signaling the job market will continue to sustain American consumers.

The increase in employment followed a 190,000 gain in May that was larger than previously reported, the Labor Department said today in Washington. The jobless rate held at 4.5 percent for a third month. "

Meh. This doesn't give the rate cut argument any ammo... the futures market remains somewhat indecisive following the data, still indicating a slightly lower open for equities. Bonds are decidedly weakening in response as the yield on the 10-year note (-12/32) climbs to 5.19%.

Keep in mind that the rally in equities over the last six months was fueled by rate cut speculation.

Source: U.S. Payrolls Rose 132,000 in June; Unemployment Rate at 4.5% (http://www.bloomberg.com/apps/news?pid=20601068&sid=aGafGaqHWqK0&refer=economy)

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