Market news
07.08.2020, 12:45

U.S. nonfarm payrolls increase more than forecast in July

The U.S. Labor Department announced on Friday that nonfarm payrolls rose by 1,763,000 in July after an unrevised 4,800,000 climb in the prior month, reflecting he continued resumption of economic activity that had been curtailed due to the coronavirus pandemic and efforts to contain it.

According to the report, employment rose sharply in leisure and hospitality (+ 592,000 jobs), government (+301,000), retail trade (+258,000), professional and business services (+170,000), other services (+149,000), and health care (+126,000).

The unemployment rate fell to 10.2 percent in July from 11.1 percent in June.

Economists had forecast the nonfarm payrolls to increase by 1,580,000 and the jobless rate to drop to 10.5 percent.

The labor force participation rate decreased by 0.1 percentage point in July to 61.4 percent, while hourly earnings for private-sector workers rose 0.2 percent m-o-m (or $0.07) to $29.39, following a revised 1.3 percent m-o-m decrease in June (originally a decline of 1.2 percent m-o-m). Economists had forecast a 0.5 percent m-o-m drop in the average hourly earnings. Over the year, average hourly earnings have increased by 4.8 percent, following a revised 4.9 percent rise in June (originally an increase of 5.0 percent).

The average workweek decreased by 0.1 hour to 34.5 hours in July, exceeding economists' forecast for 34.4 hours.

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location