# US job gains surge past expectations, wage growth quickens

> US job gains surged past expectations in May 2024, and wage growth quickened. The report was published on June 7, 2024. The article text is limited to the headline and sidebar content.

- Date: 2024-06-07 · published 2024-06-07T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/8475-us-job-gains-surge-past-expectations-wage-growth-quickens
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Strong US labor data reduces the odds of near-term Fed rate cuts, which supports the dollar and can weigh on dollar-denominated commodity prices.

## Read by commodity

- DXY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2024-06-07 | 1 | +1.0% | 3.8 | The jobs report headline with job gains and quickening wages is the underlying data release that repriced Fed expectations, though the details are limited. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-03-05 | [Dollar jumps as U.S. jobs growth beats expectations \| Financial Post](https://feedsoft.ai/events/10067-dollar-jumps-as-u-s-jobs-growth-beats-expectations-financial-post.md) | +0.2% | +0.9% |
| DXY | 2024-04-10 | [Dollar Surges as a Hot US CPI Report Dampens Fed Rate Cut Expectations](https://feedsoft.ai/events/12560-dollar-surges-as-a-hot-us-cpi-report-dampens-fed-rate-cut-expectations.md) | +2.0% | +1.2% |
| DXY | 2019-12-06 | [Dollar gains after stronger-than-expected U.S. jobs report \| Reuters](https://feedsoft.ai/events/55796-dollar-gains-after-stronger-than-expected-u-s-jobs-report-reuters.md) | -0.4% | -1.1% |
| DXY | 2018-07-11 | [U.S. producer inflation rises on strong services gains \| Reuters](https://feedsoft.ai/events/63949-u-s-producer-inflation-rises-on-strong-services-gains-reuters.md) | +0.5% | +0.4% |
| DXY | 2026-06-25 | [Euro stabilizes near 13-month lows against the US Dollar after in-line US inflation data](https://feedsoft.ai/events/19034-euro-stabilizes-near-13-month-lows-against-the-us-dollar-after-in-line-us.md) | -0.2% | -0.4% |

## Sources

- reuters.com: https://www.reuters.com/markets/us/us-job-growth-expected-remain-moderate-pace-may-2024-06-07/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.