USA Nonfarm Payrolls For June 209K Vs 225K Est.; 306K Prior
Portfolio Pulse from Happy Mohamed
The USA Nonfarm Payrolls for June came in at 209K, lower than the estimated 225K and significantly lower than the previous month's 306K.
July 07, 2023 | 12:30 pm
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NEGATIVE IMPACT
The lower than expected Nonfarm Payrolls data may negatively impact the SPY ETF, as it reflects a slowdown in job growth which could affect overall market sentiment.
Nonfarm Payrolls is a significant economic indicator that reflects the health of the job market. A lower than expected figure suggests a slowdown in job growth, which could lead to negative market sentiment and potentially impact the performance of the SPY ETF, which tracks the S&P 500 index.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80