Market Highlight 03.07.2026

The U.S economy created fewer jobs than expected in June, slowing from the strong gains seen earlier this year. The U.S Department of Labor said on Thursday that employers added 57.000 new jobs in June, below the forecast increase of 115.000 jobs. This prompted the market to scale back expectations that the Federal Reserve could raise interest rates this summer. However, the U.S labor market still appears stronger than in the second half of last year. On average, the economy added 92.000 jobs per month in the first half of this year, while in the final 6 months of 2025, the economy lost an average of 8.000 jobs per month. Healthcare and social assistance was the main driver of job growth last month, adding nearly 47.000 jobs. Meanwhile, leisure and hospitality lost 61.000 jobs in June, contrary to expectations of increased hiring driven by the World Cup. Manufacturing and construction both recorded hiring gains, partly reflecting the development of artificial intelligence data centers. However, employment declined in the information technology sector, which has been heavily affected by the adoption of AI.

The unemployment rate unexpectedly fell to 4,2%, as more people left the labor force. The share of the working-age population that is either employed or actively looking for work, known as the labor force participation rate, fell to 61,5% in June, the lowest level since March 2021.

The USD fell sharply by nearly 0,6% on Thursday after the U.S June employment report was released. Domestically, interbank USD/VND edged lower to below 26.300 yesterday, while the effective daily ceiling fell by VND1 to 26.465.

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