WASHINGTON July 6 The surging US economy created 239.000 new jobs In June, slashing the overall unem pioyment rate from 5.6 to a six-year low of 5.3 per cent and rattling financial markets reports AFP

The consensus forecast from Wall Street analysts had been for June non farm payroll employment to rise by 166.000 jobs and for the rate to remain unchanged.

The labour department report which also showed a sharp increase in hourly wages and raised fears of inflation unsettled the bond market

The September 30-year bond contract was down i -22/32 at 107-18/32 in early trading while the six per cent 30-year bond dropped to 1-18/32 at 86-24/32. yielding 7.082

The department said employment rose a revised 365^000 in May compared with the initial estimate last month of an increase of 348 000 payroil jobs

But the most closely watched figure, hourly earnings. rose by 0.8 per cent in June to 11.82 dollars following a 0.1 per cent Increase in May. Weekly earnings rose 2 2 per cent to 410.15 dollars

Since last year average hourly earnings have been increasing at a rate faster than that of the past several years.' said Katherine Abraham. Commissioner of the Bureau of Labour Statistics

Manufacturing employment decreased by 7.000 jobs in June.

The June employment report reflected strength in the retail trade industry where 75.000 new jobs were created It was the third straight month of robust grow'h following sluggish expansi' in the first quarter Abraham aid

The overall services-producing sector added 223.000 non-farrn jobs in June and gov ernment employment rose bv 10.000