Summary:
The United States added 150,000 nonfarm payrolls in October, and the unemployment rate rose to 3.9%, lower than expected.
NFP (Changes in non-farm payroll)
8/12/2023 (Fri)
Previous (Oct)：150k Forecast: 175k
The US economy added 150k jobs, and the unemployment rate rose to 3.9% in Oct, according to data released Friday by the Labor Department.
It fell short of expectations after economists projected the US to add roughly 170k jobs and maintain a jobless rate of 3.8%.
The economy added 297,000 jobs – revised sharply down from 336,000 but still an impressive figure and far higher than had been expected.
But manufacturing jobs declining by 35,000 in October reflected a drop of 33,000 in the car industry and that was largely due to strike activity.
The United Auto Workers union said last Wednesday it is trying to unionize employees at 13 companies that build cars in the country after its remarkable victory over the Big Three.
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.
The yen hit a seven-week high on Wednesday as delays to tariffs on Canada and Mexico eased concerns about the Fed's ability to cut interest rates.
2025-02-05
The Canadian dollar steadied after rebounding from multi-year lows, while the US dollar dropped as Trump paused new tariffs on Mexico for one month.
2025-02-04
Gold prices fell in early Asian trade as the dollar strengthened following Trump's new tariffs on Canada, Mexico, and China.
2025-02-03
