Analyst: US Unemployment Rate Remains Stable Easing Concerns of Significant Labor Market Slowdown

Institutional analysts commented on the U.S. non-farm payroll report, stating that the unemployment rate remains stable, wage growth exceeded expectations, and hourly wages saw a slight increase, which will alleviate concerns about a significant slowdown in the labor market. The increase in employment numbers for May exceeded the median expectation, but the cumulative downward revision for the previous two months was 95,000, which more than offset the impact of May's better-than-expected results. Analysts pointed out that the reduction of 8,000 jobs in the manufacturing sector is not what the Trump administration would like to see. Undoubtedly, we will hear predictions from the White House economic team that this situation will improve as many companies, including Apple, begin to fulfill their investment commitments in the U.S.