Very strong data on US labor market published earlier US Bureau of Labor Statistics.
The change in total nonfarm payroll employment for October was revised from +298,000 to +307,000, and the change for November was revised from +211,000 to +252,000. With these revisions, employment gains in October and November combined were 50,000 higher than previously reported. Over the past 3 months, job gains have averaged 284,000 per month.
The average workweek for all employees on private nonfarm payrolls was unchanged at 34.5 hours in December.
In December, average hourly earnings for all employees on private nonfarm payrolls, at $25.24, changed little (-1 cent). Over the year, average hourly earnings have risen by 2.5 percent.
These data will support stronger USD and Fed policy, although they were expected. Federal Reserve remains a challenge to solve the problems related to the dangers of low inflation and systemic risk, fueled by uncertainty in China. I don’t see real possibility for new interest rates on the meeting on January 26 to 27...
(source: Bureau of Labor Statistics)
G.Hristov / Head of Fundamental Analyzes
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