US STOCKS-Wall St set to open higher on jobs data
* June nonfarm payrolls increase less than expected
* Average hourly earnings unchanged
* Futures up: Dow 40 pts; S&P 4.5 pts; Nasdaq 12 pts (Adds comment, updates prices)
By Sweta Singh
July 2 (Reuters) - Wall Street was set to open higher on Thursday after data showed labor market weakened in June, indicating that the U.S. Federal Reserve could hold off on raising interest rates in September.
Nonfarm payrolls increased 223,000 last month, below the 230,000 that economists polled by Reuters had expected.
Average hourly earnings were unchanged, taking the year-on-year increase to a tepid 2.0 percent.
"It is a slightly disappointing payroll number. If anything, it buys the Fed a little more time before the first rate hike," said Wilmer Stith, a fixed income portfolio manager at Wilmington Trust in Baltimore.
"It puts September a little more in question," Stith added. Continuación...