Investing.com – The unemployment rate in the U.S. fell unexpectedly in June, official data showed on Friday.
In a report, the Bureau of Labor Statistics said the rate of unemployment was 9.5% in June, down from 9.7% in May.
Analysts had expected the rate to increase to 9.8% in June.
However, the decrease in the unemployment rate was for the most part due to the fact that a large number of jobless workers gave up their search for employment.
Following the release of the data the U.S. dollar was down against the euro, with EUR/USD gaining 0.26% to hit 1.2566.
In a report, the Bureau of Labor Statistics said the rate of unemployment was 9.5% in June, down from 9.7% in May.
Analysts had expected the rate to increase to 9.8% in June.
However, the decrease in the unemployment rate was for the most part due to the fact that a large number of jobless workers gave up their search for employment.
Following the release of the data the U.S. dollar was down against the euro, with EUR/USD gaining 0.26% to hit 1.2566.