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In February, American job surged speeded down to a five-month minimum because the weather-related boost in the previous two months faded away, staff members became more scarce, while tighter financial conditions started putting pressure on the labor market.
The tempo of hiring was firm enough, pushing the unemployment rate back below 4%.
The US Labor Department's posted moderation in employment surge. The given outcome is in line with a decelerating economy that will mark ten years of expansion in July - the longest period on record. It will probably back the Fed’s cautious approach towards further interest rate hikes in 2019.
Nonfarm payrolls managed to head north by 180,000 jobs in February. By the way, it would be the smallest ascend since September. Eventually, in December and January, payrolls tacked on by 526,000 jobs because mild temperatures backed hiring at construction sites, and also in the leisure as well as hospitality industry.
In February, temperatures became chilly that market experts told could have reversed employment gains in a number of weather-sensitive industries. Market experts are assured that the effects of a stock market sell-off along with a leap in American Treasury gains last year restrained February hiring because household wealth dived by a record $3.8 trillion, while a lot of sources of capital for businesses froze up, as follows from Fed data.
Notwithstanding the fact the American economy surged by 2.9% last year, thus demonstrating the strongest outcome for three years, in general, it lost momentum as the year was over. Business spending, homebuilding, retail sales, and exports all headed south in December, setting the American economy on a slower surge path.
The previous year, labor costs added just 1.4%, which is the smallest leap since 2016, having soared by 2.2% in 2017.
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The US central bank, Federal Reserve, will announce its decision on further monetary policy on December 15 at 21:00 MT.
The United States will publish the Federal Open Market Committee Meeting Minutes on November 24, at 21:00 GMT+2.
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
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