June Jobs Report: Consistent With A Soft Landing

(3min)

Summary

  • Monthly payrolls growth weakened slightly on the month, and there were downward revisions to previous months.
  • Total non-farm payrolls increased by 206,000 in June, down from 218,000 last month, which itself was downwardly revised from 272,000.
  • Although the three-month moving average has dropped to 177,000, it remains above the 150,000 threshold.

analyzing stocks

Marilyn Nieves

By Seema Shah, Chief Global Strategist

June’s jobs report is broadly consistent with the soft landing narrative. Monthly payrolls growth weakened slightly on the month, and there were downward revisions to previous months, but overall, the numbers remained fairly solid, and wage

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The Principal Financial Group (The Principal®) is a global investment management leader offering retirement services, insurance solutions and asset management. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and insurance through its diverse family of financial services companies. Founded in 1879 and a member of the FORTUNE 500®, the Principal Financial Group has $519.3 billion in assets under management1 and serves some 19.7 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com. Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Co. Plan administrative services offered by Principal Life. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities offered through Princor Financial Services Corp., 800/247-1737, Member SIPC and/or independent broker/dealers. Principal National, Principal Life, Principal Funds Distributor, Inc. and Princor® are members of the Principal Financial Group®, Des Moines, IA 50392. Investing involves market risk, including possible loss of principal.

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