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Nonfarm Payrolls Seen at Record 3M

by SignalFactory   ·  July 2, 2020 | 09:39:02 UTC  

Nonfarm Payrolls Seen at Record 3M

by SignalFactory   ·  July 2, 2020 | 09:39:02 UTC  

Today there are no trading signals due to the NFP Report

The US economy likely added 3 million jobs in June, a new record high as more businesses reopened after the coronavirus lockdown. It would be the second straight month of employment gains after the economy lost a record 20.5 million jobs in April. The jobless rate is seen declining to 12.3 percent from 13.3 percent. However, the job market still has a long way to full recovery. Many economists believe the numbers do not capture the full scale of job losses as many are being still classified as employed but are absent from work. Also, with the second wave of coronavirus in the US and several states scaling back or pausing reopening, more people will lose their jobs.

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