US nonfarm payrolls beat forecasts, yet unemployment rises
The awaited jobs report showed that non-farm figures showed further progress in the pace of job creation, yet unemployment rate soared and pay growth missed forecasts.
Analysts predicted a job creation of 175,000 jobs, but the reading showed 222,000 jobs from an upwardly revised of 152,000 job-gain in May, which was 138,000 before revision.
Unemployment rate soared from a 16-year low of 4.3 percent to 4.4 percent, while analysts had predicted no change.
The average hourly earnings gained 0.2 percent last month, compared to both revised and predicted readings of 0.1 percent and 0.3 percent respectively. On the yearly basis, wage growth surged 2.5 percent, lower than forecasts of 2.7 percent.
dollar slipped to trade at 95.79 against a basket of major currencies,
according to the dollar index, as of 12:38 GMT.