Jul NFP - Immigration Affects Employment Data
2024-08-02
Summary:
The US labour market has been showing perplexing trends recently, marked by robust nonfarm payroll growth juxtaposed with a rising unemployment rate.
JUL NFP
2/6/2024 (Fri)
Previous (Jun)：206k Forecast: 178k
The US labour market has been showing perplexing trends recently, marked by robust nonfarm payroll growth juxtaposed with a rising unemployment rate.
In June 206k jobs were added with an average of 222,000 over the past six months, while unemployment rate rising to 4.1%. That may stem from a surge in immigration post-pandemic.
Around two-thirds of the immigrants have participated in the labour force and hence a mismatch between job growth and unemployment rates. In that sense the breakeven NFP growth is trending higher.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
Yen firms on increasing political certainty
Despite PM Shigeru Ishiba's coalition losing its majority in last month's election, the yen steadied after his re-election.
2024-11-12
Sterling Drifts Higher Against Euro on Policy Rate Bets
Sterling hit a two-year high against the euro on Monday, as investors bet the ECB would ease monetary policy faster than the BOE.
2024-11-11
Oil Market Yet to Reflect MAGA Influence
Trump's return may boost fossil fuels and affect oil prices, with trade wars, geopolitical tensions, and low demand adding pressure.
2024-11-08
