A Decline in The US Jobs Sector
The US Dollar fell against all currencies after the U.S. Labor Department released the labor market data on Friday.
The U.S. economy added 142,000 jobs in September, missing expectations for a rise of 203,000 jobs, after a gain of 136,000 jobs in August. The figure was revised down from a rise of 173,000 jobs.The increase was partly driven by a rise in health care employment. Health Care sector added 34,000 jobs in September, while the Manufacturing sector lost 9,000 jobs. Professional and Business Services sector added 31,000 jobs in September, while Mining sector shed 10,300 jobs.
The U.S. Unemployment Rate remained unchanged at 5.1% in September, in line with expectations. It was the lowest level since April 2008.
Average Hourly Earnings were flat in September, missing forecasts of a 0.2% gain, after a 0.4% increase in August. The figure was revised up from a 0.3% rise.
The Labor-Force Participation Rate declined to 62.4% in September from 62.6% in August. It was the lowest level since October 1977.
These figures indicate that the interest rate hike by the Fed this month is unlikely despite comments by some Fed officials.
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Crude oil prices rose during Friday’s trading session, after figures showed a decline in the employment sector in the United States. | |||
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