Tag Archives: U.S. unemployment

Unemployment rate falls to lowest level since 2008

8 Mar

U.S. employers ramped up their hiring in February, helping the unemployment rate to fall to its lowest level since December 2008.

The U.S. economy added 236,000 jobs in February, according to a Labor Department report released Friday. That’s much stronger growth than in January, when employers hired a revised 119,000 workers.

The unemployment rate fell to 7.7% last month, the lowest since December 2008, from 7.9% in January, figures showed.

Employment increased in professional and business services, construction and health care.

Employment growth has risen by an average of 195,000 a month in the last three months, figures show. Analysts had forecast a rise of 165,000 jobs for February.

Professional and business services added 73,000 jobs last month, while the construction industry hired 48,000 employees. The health care industry added 32,000 jobs and the retail sector added 24,000 new staff.

Following the release of the jobs figures, stocks on Wall Street opened higher with the Dow Jones index up 62.23 points at 14,391.72 . The dollar also gained against the euro and the yen.

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Areas of the U.S. economy starting to resemble pre-financial crisis period

17 Jan

Real estate market and work beyond the most optimistic expectations

Applications for financial aid from the state for those who lose their jobs reached 335,000 last week, a minimum 5 years. This is a remarkable development that could signal a strengthening U.S. labor market expansion. Part of surprise might have been due to technical issues related to the seasonal adjustments, but it’s pretty clear that if further reports will be below 340-350 thousand, we are dealing with a marked improvement. New construction reached an annualized rate of 0.95 million units, also partially explained by autonomous factors such as warmer weather. Growth was strong in all four regions and confidence is at the best level since April 2006. In fact the U.S. economy offers a more constructive, and lower chances QE program to be pushed far into the future. The consequences were immediate in markets, the dollar unable to ignore positive U.S. macroeconomic trend. Gold recorded acute fall, but began to recover later. Initial trend seems to be broken, receiving help from weaker Philly manufacturing index. But today’s figures are likely to persist for some time and can pose problems in the future for Euro and Gold.

Unemployment claimsSource: forexfactory.com

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