Non-farm salaries in March have been revised from 916,000 to 770,000
Unemployment rates rose to 6.1%, so far below expectations, the number of non-farm payroll figures rose to 266,000 on Friday.
Dow Jones’ estimate was to add 1m of new jobs, along with the 5.8% unemployment rate.
#NFP April’s growth comes at a disappointment +266k
The unemployment rate was up to 6.1%
oh!
Now, let’s look under the hood and see what happened based on the sector.
Also, please see here @jobqualityindex In about 15 minutes #jqinstant.
– and alpert (@danielalalpert) May 7, 2021
– Advertising –
There were signs that the US economy was on its track, so many economists were hoping for higher employment figures.
The market has given a slightly negative response to the announcement with a signal that investors hoped the Fed would go a long way from tightening its policies.
“It certainly removes pressure from the Fed and removes any impending rate increases from the table,” said JJ Kinahan, Chief Market Strategist at TD Ameritrade. “We’re not going to see wage inflation. We have to continue our party as many people are employed as we thought.”
In even worse news, the original March figures were revised from 916,000 to 770,000.
“We’re a great deal of exploiting the world,” said Jason Furman, an economist at Harvard University and a former Obama administration adviser. “Looking at April, it seems there were about 1.1 unemployed people every time we opened jobs. There are a lot of jobs out there and there’s not a lot of labor supply yet.”
In the beaten leisure and hospitality industry, you’ve earned the biggest jobs as 311,000 extra workers added, but your sector is still more employed than before the pandemic.
The Bureau of Labor Statistics also includes unemployment rates among the major worker groups: adult males (6.1%), adult females (5.6%), teenagers (12.3%), whites (5.3%) and blacks (9.7%). I’ve confirmed that there is. Asians (5.7%) and Hispanics (7.9%) showed little or no change in April.
The report allowed many economists to see a burst of over 10% in the second quarter amidst robust growth, with gross domestic product increasing at an annual pace of 6.4% in the first quarter.
Robert Alster, CIO of Close Brothers Asset Management, commented: A combination of rapid vaccine rollout, heavy fiscal stimulus and ultra-flight monetary policy has yet to reveal the US economy as both non-farm salaries and unemployment rates are far worse than expected .
“And the Devil is in detail. The Fed is keen to monitor inclusive employment to ensure that the US does not fall into a “K-shaped” recovery trap. By using the “Powell Dashboard,” the Fed means a true recovery means improved black employment, wage growth for low-income workers, and participation in the labor market for Americans without university education. It has been revealed. data. For those trying to load whether comments about Yellen’s rate hiking potential are predictive or hypothetical, it is these more subtle metrics that require viewing. ”
