The report issued by the US Bureau of Labor Statistics moments ago showed that 223,000 jobs were added in December, compared to the addition of 263,000 jobs in the November reading, better than the market’s expectations, which indicated the creation of jobs estimated at 200,000 jobs.
On the other hand, the unemployment rate declined to 3.5% from 3.7%, better than expected, coinciding with the increase in labor force participation rates to 62.3%.
Average hourly wages declined in December to 0.3%, a monthly rate of 0.6%, while it fell to 4.6% on an annual basis, compared to 5.1% in November. In the details of the sectors, the commodity production sector added about 40,000 jobs, while the construction sector added 28,000 jobs, and the manufacturing sector added about 8,000 jobs, and the services sector added about 180,000 jobs.
The US dollar recorded declines of more than 0.30% after announcing the numbers, affected by the decline in the wage level, as the figures support the US Federal Reserve’s continued slowing down of the pace of tightening monetary policy, while the US dollar general index is heading to close the week with gains of more than 1.5%, as it is now trading at 105.33 levels.
Canada
On the other hand, the Canadian economy added about 104 thousand jobs in December, up by 0.5%, while the unemployment rate fell to 5.0% from 5.1% in November, while expectations were for a rise to 5.2%.
02/11/2024
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