Total nonfarm payroll employment changed little in May (+38,000). Analysts were anticipating increase by 159,000. Job growth occurred in health care. Mining continued to lose jobs, and a strike resulted in job losses in information. Unemployment rate declined by 0.3 percentage point to 4.7% and the number of unemployed persons declined by 484,000 to 7.4 million. Both measures had shown little movement from August to April.
In May, average hourly earnings for all employees on private nonfarm payrolls increased by 5 cents to $25.59, following an increase of 9 cents in April. Over the year, average hourly earnings have risen by 2.5 percent. Average hourly earnings of private-sector production and nonsupervisory employees increased by 3 cents to $21.49 in May.
Euro is currently being traded few points above 1.1310 level, Sterling is around 1.4560 handle, while Aussie is at 0.7330 area.