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Thursday, November 30, 2023

USA – labor market. Data on new jobs surprised economists

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The number of new jobs in the United States increased by 336,000 in September – reported the Bureau of Labor Statistics, which specializes in labor market data. Such data surprised economists who expected an increase of 170,000 jobs.

The number of new jobs in non-farm sectors in the United States increased by 336,000 in September. An increase of PLN 170,000 was expected. A month earlier, the increase amounted to 227 thousand, after correction from 187 thousand.

August’s result is the highest monthly employment increase since January. CNN notes that this result also significantly exceeds the August increase in new jobs.

Such impressive results were mainly due to the “recreation and hospitality” sector, which was responsible for 96,000 new jobs. Government employment also increased by 73,000 jobs.

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The US president has already boasted promising data Joe Biden.

– This is not a coincidence, this is Bidenomy, we are growing the economy from the inside, from the bottom up, not from the top down, Biden said during a press conference. – Inflation at the same time it is falling, said the president.

Unemployment rate

Unemployment rate in the USA it was 3.8%, expected 3.7%. compared to 3.8 percent a month earlier. Hourly wages increased by 4.2%. y/y, and m/m by 0.2%. vs. consensus 4.3 percent and 0.3 percent A broader measure of the unemployment rate (U-6), more reflective of the labor market situation in USA, amounted to 7 percent. compared to 7.1 percent a month earlier. The employment rate, which determines the percentage of the working-age population working professionally, was 62.8 percent, in line with expectations, compared to 62.8 percent. a month earlier. Economists predicted 62.8 percent.

Main photo source: Ryan DeBerardinis / Shutterstock.com

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