The U.S. economy added 222,000 jobs in June and monthly employment statistics from May and April were revised higher. Economists had predicted an increase of 178,000 jobs in June according to Bloomberg data, signaling the June report beat high expectations. Since late 2016, the Fed has hiked interest rates three times on account of low unemployment, steady growth, and signs of stabilizing inflation. Friday's jobs report will continue to position Federal Reserve chair Janet Yellen as a rate hiker heading into 2018. Economists at Deutsche Bank characterized Friday's jobs report as "perfect" for risk assets like stocks and commodities.

Source: Forbes July 07, 2017 13:30 UTC