Sunday , June 13 2021

In January, the US economy created 304,000 jobs and shook expectations

The increase, which exceeds the forecasts of analysts expecting to create 165,000 jobs, is due to the construction, trade and services sectors.

Despite the government's partial closure, the US economy surprised the markets and created 304,000 new jobs in January, a figure that far exceeded the expectations of analysts who predicted that around 165,000 jobs would be generated, the highest increase since February 2018 year

In addition, 99 consecutive months of job creation have been completed, the longest positive cycle for the labor market of the world's largest economy.

The increase is due to demand-related sectors such as construction, trade and services, restaurants and hotels.

However, the unemployment rate rose to 4% in the first month of the year from 3.9% in December, recording its highest level in the last 7 months.

While wages grew by US $ 0.03. per hour to $ 27.56, which posted a 12-month increase of 3.2%, slightly below the 3.3% growth recorded last month.

Source link