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    US non-farm payrolls likely increased 150,000 in June – Danske Bank Sandeep Kanihama

    Research Team at Danske Bank, suggests that today all eyes will be on the June US jobs report.Key Quotes“We expect to see a rebound in employment growth following the worst jobs report in five years in May. The Verizon strike, which weighed negatively on the May jobs report by around 35,000, has ended, but as the end-day was after the reference day for the payrolls count, the positive effect on total payrolls will not be visible until the July jobs report. In total, we estimate non-farm payrolls increased 150,000 in June.We expect average hourly earnings to have increased 0.2% m/m in June in line with the recent trend implying an annual growth rate of 2.7%, the highest since the crisis. The unemployment rate declined to 4.7 % in May, due to a falling participation rate. We think 4.7% is too low for now and expect the unemployment rate to have climbed to 4.8% in June.”

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