US: Nonfarm payrolls increased 224K in June vs. 160K expected

• Unemployment ticked up to 3.7% in June from 3.6% in May.
• Wage inflation, as measured by average hourly earnings, stayed unchanged at 3.1% (YoY) in June. 

The U.S. Bureau of Labor Statistics on Friday reported that nonfarm payrolls in June increased by 224,000 following May's reading of +72,000 (revised from 75,000) and missed the market expectation of 160,000 by a wide margin.

With the initial reaction, the US Dollar Index jumped above the 97 mark and was last seen adding 0.33% on the day at 97.06.

Key takeaways from the press release

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