US nonfarm payrolls increased by 172K in May
The US jobs report showed a significant increase in nonfarm payrolls, with 172K jobs added in May, nearly double the consensus estimate of 85K.
The strong jobs report has led to a rise in bond yields and a decline in stocks, with the NASDAQ index having its worst trading day since April 2025.
The US dollar is rising, and gold is sinking, with bitcoin nearing its lowest level since October 2024, approaching the $60,000 mark.
The employment picture in North America received a boost, with Canada’s employment change at 87.8K, exceeding the estimated 10.0K, and the US unemployment rate falling to 6.6%.