The federal report on non-agricultural job creation reported 4.8 million new jobs in June in the United States, a good surprise when the consensus was counting on 3 million.
The figures for May were also revised upwards to 2.699 million. Result : the unemployment rate in the United States fell by more than 2%, fell to 11.1% in June, after climbing to 13.3% in May.
Weekly jobless claims still very high
The coronavirus pandemic has severely impacted the American job market. The downside of its flexible model, the unemployment rate in the United States thus jumped by more than 10% between the month of March and the month of April.
And if some of the Americans seem to have gone back to work in recent weeks, job creations in the past two months have far from offset the 20.5 million jobs destroyed in April, while weekly jobless claims are still at historically unprecedented levels.
So, the number of new registered unemployed last week came out higher than expected, at 1.427 million, slightly lower than the previous period, but higher than analysts’ expectations at 1.355 million. A downward trend far from offsetting the few
Unsurprisingly, and after a session in order dispersed Wednesday on Wall Street, operators of the equity markets have sorted these statistics to retain only the glass half full.
Dow Jones and S&P 500 expected to rise on opening
At around 3 p.m., the futures of the New York Stock Exchange record good progress: those of the Dow Jones are up 1.62%, those of the S&P follow with 1.27% gains, and those of the Nasdaq gain about 1%.
In Europe, the CAC 40 has returned above 5000 points to + 2.18%, the Dax 30 jumped 2.3% to 12,545 points, and the FTSE 100, to + 1.21%, is moving towards 6230 points.
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