U.S. equity index futures are lower this morning. The June employment report released at 8:30 AM EDT confirmed that economic green shoots in the U.S. are wilting. S&P 500 futures are down 11 points in pre-opening trade.
Data from the June employment report was disappointing. Consensus for June non-farm payrolls was a decline of 325,000 versus a decline of 345,000 in May. Actual was a decline of 467,000. Consensus for the June unemployment rate was 9.6% versus 9.4% in May. Actual was 9.5%. Consensus for June hourly earnings was an increase of 0.2% versus 0.1% in May. Actual was no change. (more)
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