# Nonfarm Payrolls increase 272,000 in May vs. 185,000 expected

> US nonfarm payrolls rose 272,000 in May 2024 against an expected 185,000. Unemployment edged up to 4.0% and wage growth reached 4.1% year on year. The US Dollar Index rose 0.5% to 104.60 after the release.

- Date: 2024-06-07 · published 2024-06-07T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/8479-nonfarm-payrolls-increase-272-000-in-may-vs-185-000-expected
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A large jobs beat with firm wages pushes back expectations for Fed easing, which strengthens the dollar and tends to weigh on dollar-priced commodities.

## 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 payrolls beat (272k vs 185k expected) with wage growth at 4.1% was the direct catalyst for the dollar's jump upon release. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-05-31 | [Palm Oil Prices Imbas Production In Malaysia Increase](https://feedsoft.ai/events/15564-palm-oil-prices-imbas-production-in-malaysia-increase.md) | -0.5% | -1.9% |
| DXY | 2019-10-31 | [The Loonie falls after stronger numbers than expected in the American economy. - OFX (US)](https://feedsoft.ai/events/56800-the-loonie-falls-after-stronger-numbers-than-expected-in-the-american-economy.md) | -0.1% | +0.8% |
| 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 | 2020-10-07 | [China Sept FX reserves fell unexpectedly as pandemic pressured global economy](https://feedsoft.ai/events/5562-china-sept-fx-reserves-fell-unexpectedly-as-pandemic-pressured-global-economy.md) | -0.5% | -0.9% |
| DXY | 2024-06-07 | [US job gains surge past expectations, wage growth quickens](https://feedsoft.ai/events/8475-us-job-gains-surge-past-expectations-wage-growth-quickens.md) | +1.4% | +0.8% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/us-nfp-nonfarm-payrolls-forecast-to-grow-by-185k-in-may-amid-increasing-signs-of-cooling-labor-market-202406070500

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