The report issued by the US Department of Labor in Washington just a few moments ago showed that 194 thousand new jobs were added in September, compared to 235,000 jobs added by the sector in October, less than the expectations that were referring to the addition of 490 thousand jobs.
The statement showed a decline in the unemployment rate by about 0.4% to reach 4.8%, compared to expectations that indicated a decline to 5.1%, with a decline in the rate of participation in the labor force to 61.6%, compared to 61.4%.
Wages rose in turn by 0.6% in September, better than the market expectations, which indicated a rise to 0.4%. Jobs were distributed in a number of sectors, where the commodity production sector added 52 thousand jobs, while the construction sector added about 4 thousand jobs, and the manufacturing sector added 26 thousand jobs.
The US dollar is recording declines in these moments due to the negative employment data and despite the improvement in the unemployment rate and the level of wages, and we expect that the negativity will be temporary in the US dollar, given that 194 thousand jobs will not prevent the US Federal Reserve from reducing asset
purchases in November.
06/11/2024
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