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As fears of a recession persist but have yet to be realized, U.S. employers added 209,000 jobs in June, the Labor Department reported Friday. The unemployment rate was 3.6 percent, compared with 3.7 percent in May.
It was the 30th consecutive month of gains in American payrolls, but the June figure represented a continued cooling of the labor market. The total was down from a revised 306,000 in May and was the lowest since the streak began. The figures are seasonally adjusted.
Energy stocks and broader equities are trading firmly in negative territory, with losses in futures accelerating following robust private sector payrolls growth in June. ADP reported new job openings grew by 497,000 in June, more than double expectations. While this illustrates a strong labor market, it increases the likelihood of further rate increases from the Federal Reserve in the near term.
Oil prices were little changed on Thursday as the market digested tighter crude supply alongside fears of a global economic slowdown. On the supply side, top oil exporters Saudi Arabia and Russia announced a fresh round of output cuts for August. The total cuts now stand at more than 5 million bpd, equating to 5% of global oil output.
Natural gas futures are lower by a penny on higher gas output, which overshadowed forecasts for hotter weather.
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by Bloomberg|María Paula Mijares Torres |US President Donald Trump said his administration’s talks with Iran...
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By Irina Slav for Oilprice.com| The 411,000 barrels daily that OPEC+ said it would...
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