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| June Employment Data (#1) - Jul. 8, 2005 |
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Summary
Earlier this morning, the Labor Department reported that the unemployment rate unexpectedly fell 0.1% in June, to 5.0%. Meanwhile, payroll emloyment growth for the month, at 146,000, was below a consensus forecast that was looking for something around 200,000.
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Soon, probably over the weekend, I will publish a more detailed analysis of today's employment report. One point here: Revisions to prior months' payroll data were +44,000, effectively bringing June's 146,000 figure up to approximate expectations.
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