Publicado: Lun, Noviembre 05, 2018
Financiera | Por Marilu Caballero

U.S. Jobs Report Signals More Interest Rate Hikes Ahead

U.S. Jobs Report Signals More Interest Rate Hikes Ahead

"Tax relief is helping our economy grow and Iowans are keeping more of their hard-earned money", Rep. David Young, R-Iowa, who is in one of the most competitive House races in the country against Democrat Cindy Axne, tweeted Friday after the jobs numbers came out.

New data released by the Bureau of Labor Statistics (BLS) shows that nonfarm payroll employment rose by 250,000 jobs in October, far exceeding expectations by 50,000 jobs. Professional and business services, which include engineers, architects and accountants, gained 35,000 jobs.

Economists polled by Reuters had forecast payrolls increasing by 190,000 jobs in October and the unemployment rate unchanged at 3.7 percent.

The annual increase of 3.1% in hourly earnings followed a 2.8% advance in September.

In the July-September quarter, consumer spending grew by the most in four years and helped the economy expand at a 3.5 percent annual rate.

In late August, she took a job at a hospital in Springfield that pays $11.22 an hour.

Average work week increased to 34.5 hours, from 34.4 hours in prior month; a shorter workweek has the effect of boosting average hourly pay. The unemployment rate stayed at a five-decade low of 3.7 per cent. A Pew Research Center survey in September-October showed significant majorities of voters who support Democratic candidates saw the rich-poor gap and wages as "very big" problems in the country today.

The labor force participation rate also ticked up in October to 62.9%, a 0.2% increase from September. The Fed raised borrowing costs in September for the third time this year.

Trump versus Obama on final U.S. campaign weekend
Said Fleischer: "In the aftermath people with exaggerate its meaning and in 2 years' time everything will have changed". The most likely scenario is a split Congress: Democrats take charge of the House and Republicans retain the Senate.

Employment in other major industries, including wholesale trade, retail trade, information, financial activities, and government, showed little or no change over the month. Prices of U.S. Treasuries were lower.

Many of employers' most recent hires had struggled through much of the nation's 10-year recovery from the Great Recession. There are a record 7.14 million open jobs.

Investors were more closely watching wage growth in October, which rose 0.2% over last month and 3.1% over a year ago, the fastest pace of annual wage gains since April 2009.

Some analysts have tied rising pay to moves by 18 states to increase their minimum wages at the start of the year. The civilian labor force participation rate for workers between ages 25 and 54, which measures the percentage of the population that is working or looking for work, jumped to its highest level since May 2010.

The Labor Department said 198,000 people weren't at work due to bad weather, reflecting Hurricane Michael's impact on Florida, following 299,000 in September amid Hurricane Florence.

Last month's plunge in stock prices didn't dampen Americans' enthusiasm, though the survey was conducted in the first half of October, before the full market decline had occurred. Additionally, the baseline for the wage increase is lower because it is compared to October 2017, when wages dipped.

In the blue-collar focused manufacturing and construction sectors, some 32,000 and 30,000 jobs were added, respective. Job gains in the sector, which accounts for about 12 per cent of the USA economy, could slow after a survey on Thursday showed a measure of factory employment fell in October. Although the purchasing managers index for manufacturing fell in October to the lowest level since April, indicating slowing demand, the employment report is an an indication that tariffs on imported aluminum and steel haven't negatively impacted hiring in factories thus far. -China trade war and impending November midterm elections that are just days away.

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