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U.S. Nonfarm Payroll Employment. Job Growth Changed at 49,000 Gains

February 5, 2021 by Forex Winner Leave a Comment

U.S. Nonfarm Payroll Employment. Job Growth Changed at 49,000 Gains

The U.S. added 49,000 jobs in January, less than expected 105,000, according to the Bureau of Labor Statistics press release. The unemployment rate fell by 0.4 percentage points to 6.3% in January, less than expected 6.7%.

  • Private payrolls in January rose by 6,000, more than estimated 163,000.
  • Average hourly earnings rose 0.2% from December, below expected 0.3%
  • Job participation rate declined to 61.4%.
  • Treasury yields pared gains while equity futures remained up.
  • Asian Americans recorded a rise in unemployment while jobless rates for Blacks, Whites, and Hispanic Americans fell. 
  • Almost all added jobs in January came from the government.
  • Weak job growth may boost calls for a big stimulus by President Joe Biden’s administration.
  • The weak job growth also suggests that the pandemic’s near-10 million jobs losses may take years to fill.
  • Most job losses were concentrated in leisure, hospitality, and retail.

U.S stocks are gaining as the dollar losses. SPY is up 0.47% on premarket, QQQ is up 0.2% on premarket, EURUSD is up 0.42%

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