U.S. payrolls increased by 147,000 in June, more than expected

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Nonfarm payrolls increased a seasonally adjusted 147,000 for the month, higher than the estimate for 110,000 and just above the upwardly revised 144,000 in May.
Market pricing shifted strongly following the payrolls report, with traders all but taking the chance of a July rate cut off the table.
Government employment posted a large gain, leading all categories with an increase of 73,000 due to solid boosts in state and local hiring.

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