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U.S. United States Non Farm Payrolls Data In November Worse Than Market Estimates

In the United States, United States Non Farm Payrolls only increased by 210,000 in November, which was the lowest level of growth this year, which was far worse than the market’s original estimate of more than 500,000. As for the unemployment rate, it dropped to a 21-month low of 4.2%. As for the average hourly wage growth in November, it rose by 0.3% and 4.8% month-on-year. The low unemployment rate reflects that the entire US labor market is experiencing tension. Although wages have risen significantly, Americans refuse to go to work, making it difficult for new positions to rise. The United States is still losing 4.2 million jobs before the epidemic, but the unemployment rate has returned to its pre-epidemic level. The entire employment report is not expected to hinder the Fed's decision to further tighten monetary policy on the 14th and 15th of this month. Instead, the focus is to observe the future changes of the Omicron variant virus in the United States and the November inflation (CPI) figures announced by the United States this Friday (10th).

Source: Tradingeconomics.com 

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