Sunday, October 5, 2014

USA: the unemployment rate fell to its lowest level in six years … – Romandie.com

USA: the unemployment rate fell to its lowest level in six years … – Romandie.com

USA: the unemployment rate fell to its lowest level in six years in September

(synthesis)

Washington (awp / afp) – The unemployment rate in the United States fell below 6% for the first time since July 2008 and job creation rebounded in September, confirming the recovery and reviving the debate on the timing of a rise in interest rates.

the Surprising markets, the unemployment rate down 0.2 percentage points, slipping to 5.9% its lowest level in six years, just at the beginning of the housing and financial crisis, according to data released Friday by the Labor Department .

The economy created 248’000 jobs in September, while analysts had forecast 210,000 new jobs and predicted that the unemployment rate remained stable at 6.1%.

The force of the new hires will erase the poor performance in August (142,000 initially announced) which seems to have been a blip. The July figures (243,000) and August (180,000) were revised up from 69,000 in total. Year over year, the American economy has created an average 213,000 jobs a month.

“I was not sure we would ever see an unemployment rate beginning with the digit 5 ​​in the Obama administration “responded, smiling on the economic news channel CNBC, Jason Furman, who chairs the Circle of Economists of the White House. “See the unemployment rate down to a pace that is faster for thirty years is really good news,” he said adding that even last year’s “most forecasters said it would take 2017 to see that. “

This fall faster than expected unemployment rate will undoubtedly rekindle the debate within the central bank (Fed) American on the timing of the first increase in interest rates.

“This should encourage the Fed to at least modify his message of monetary policy at the next meeting of the Monetary Policy Committee (FOMC)” on 28 and 29 October, said Sal Guatieri BMO Capital Markets.

Sharpen, Paul Dales of Capital Economics, discerned in these figures more likely “to see the Fed raise rates in March rather than waiting until June.” This thinking was reflected on the currency markets where the prospect of a merger of a rate rise significantly raffermissait the dollar. The euro slipped, approaching the symbolic threshold of $ 1.25, its lowest level in over two years.

STILL NO WAGE INCREASE

Ian Shepherdson, “lack of wage growth will reinforce the doves + +” to the Fed, which emphasize the fight against unemployment, “while the decline in unemployment will worry hawks + +”, more interest in the fight against inflation.

For as pointed out in surprise most observers, despite the improvement in the labor market, there is still no sign of increase in wages. The average hourly wage has remained virtually unchanged in September at $ 24.53, losing even one cent. Year over year, its growth fell from 2.1% to 2%.

“We need a lot more wage growth, there is no doubt,” said Jason Furman, economist in the White House.

Job gains were widely distributed across many sectors of the economy, including business services, health services and retail . Job gains in the latter area, however first worn by a return to work of many employees who had observed a strike in August in a large supermarket chain in the northeast of the country.

The number of unemployed fell by 329,000 to 9,300,000. The long-term unemployed (unemployed for more than six months) remain numerous, representing 31.9% of the unemployed.

The number of people working part-time because to beat a little declined to 7.1 million against 7.3 million in August.

participation in the labor market, with those employed and those actively seeking work, has slightly decreased to 62, 7% against 62.8%, which helped a bit to drag the unemployment rate

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