USA. Unemployment is falling, but few new jobs are created

The US economy is slowly returning to the path of growth following the economic blockade introduced in response to the government’s reaction to the coronavirus. Experts indicate that it is a long way from the recovery of the state before the epidemic began. The latest data confused economists in their assessment of the situation.

The good news is that unemployment fell to 4.2 percent in November. against 4.6 percent recorded in October. This is the fifth month in a row that the unemployment rate has fallen. The positive trend in this area has continued since last April, when unemployment reached almost 15%.

USA. Surprising information about jobs

From the perspective of financial markets, however, other information is more important, related to the number of new jobs that were created in the non-agricultural sector in the last month. Experts do not hide a very negative surprise in this matter.

Due to the fact that in October, 546 thousand people were added. new jobs (the result was revised from previously estimated 531 thousand), in November economists expected another 550 thousand. However, as it turned out, the American statistical office reported that only 210,000 were added. Forecasts assumed that the result would be almost three times higher.

Unemployment. “Very strange data”

Economists from the XTB brokerage house stated in their first comment that this is “very strange data”. They also indicated, inter alia, on the decline in employment in the government sector by 25,000. Good news is, in turn, the increase in employment in the industrial sector by 31,000. Economists point out, however, that it is lower than expected, estimated at 45,000.

“The participation rate slightly increases to 61.8%, therefore such a sharp decline in the unemployment rate is puzzling” – they indicate.

Also read:
Condition without lockdown and sanitary segregation. Florida is a leader in job growth in the country

About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

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