Payrolls report above expectations, dollar rising
2022.12.02 09:26
Payrolls report above expectations, dollar rising
Budrigannews.com – In November, despite rising signs of layoffs in the economy, jobs continued to grow because the rampant pace of U.S. growth refused to slow down.
Since the middle of the month, employment has increased by 263 thousand people, which significantly exceeded the consensus forecast by 200 thousand people. Also, the number in October was revised by 23 thousand, which reflects an increase of 284 thousand.
The increase in the number of employed is only part of the report, which showed that the labor market continues to be tense. Increased by 0.6% and returned an annual growth of 5.1%.
Also in this case, the initial estimate of October data was increased to 0.5 from 0.4. Also, a stable labor market again failed to bring dismissed employees back to the labor market. From 62.2, the indicator decreased to 62.1.
Those who think that poverty is putting more and more pressure on the country’s economy were reassured by the figures, which indicate that poverty is putting more and more pressure on the country’s economy.
“In my speech before graduation, I said that I am afraid that we are increasingly moving into an environment where work is short, but not long. “I think I won’t have the manpower.”
The figures reduce hopes for a quick stop to the Fed’s rate hikes, which have been rising in recent weeks, because Chairman George Powell stressed that the next step may be less than the 75 basis point increase that was observed at each previous meeting.
By 08:45 Eastern time, by 13:45 GMT, they fell by 1, 6, 1, 3, and 2, 3.
The index fell by 0.6 to 105.38, tracking the dollar exchange rate in a basket of currencies of emerging economies, and the yield of interest rate-sensitive stocks increased by 13 basis points until 4.38.
Analysts believe that the report increases the likelihood that the Federal Reserve will continue to tighten its policy to control inflation, although this may mean a risk of recession.
On Twitter, Jason Furman, a researcher at the Peterson Institute, wrote: “I allowed myself to hope more for an easy landing… however, this has greatly destroyed hope,” pointing to significant changes in relation to salary increases over the past two months.
This is it. He argues that this, together with evidence of sluggish productivity growth, indicates that there is still significant inflationary pressure on the labor market.” Today’s salary reports are more important than any other salary report this year, so that you reconsider your opinion about inflation and overall dynamics.
And not in a bad way,” Frurman said. In the gap of sectors in the tourism and recreation industry, a significant increase in the workplace was again noted, and production and construction also continued to develop. However, at the beginning of the next holiday season, there were also more and more obvious pockets of weakening of consumer-oriented sectors, and the loss of jobs occurring in retail stores, transport, and warehouse.
According to Daniel Zhou, “this holiday season, the number of workers in retail stores was much less than last year in 2010.” The chief economist of Glassdoor is the Chief Economist.
