US November wage growth remains solid, dashing hopes for the Fed Pivot
US November Payrolls gained 263K, according to the report released by the BLS on Friday. The reading beat estimates however MoM growth was the lowest since April last year.
Consensus estimate was 200K, October reading was revised up to 284K. Unemployment level remained unchanged at 3.7% which was in line with the forecast.
In the private sector, the number of jobs increased by 221K, in the public sector – by 42K.
A significant increase in the number of jobs was noted in the leisure and hotel business - by 88K, in the healthcare sector - by 45K. Meanwhile, in the retail trade and in the logistics sector, the number of jobs declined by 30K and 15K, respectively.
Private sector average hourly wage increased by 0.6% in November compared to the previous month. In annual terms, the indicator rose by 5.1% after rising by 4.9% in October. Thus, the pace of wage increases in the United States significantly exceeds the pre-pandemic rates of 2-3%.
Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% and 75% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Futures and Options: Trading futures and options on margin carries a high degree of risk and may result in losses exceeding your initial investment. These products are not suitable for all investors. Ensure you fully understand the risks and take appropriate care to manage your risk.