us unemployment rate falls to 49 on solid job creation
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

US unemployment rate falls to 4.9% on solid job creation

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice US unemployment rate falls to 4.9% on solid job creation

The US unemployment rate was little-changed
Washington - AFP

The US economy added a solid 161,000 jobs in October while the unemployment rate fell to 4.9 percent, according to Labor Department figures released Friday.

In a show of steady momentum in the world's largest economy, the department revised upward its jobs reports for the previous two months by a total of 44,000 positions, taking the average for the past three months to a strong 176,000 new jobs.

Average hourly earnings also saw their strongest gains in seven years, rising 2.8 percent to $25.92.

The jobs report pointed to the continued health of the US economy, according to Ian Shepherdson of Pantheon Macroeconomics, who said he expected gains in average hourly earnings to continue into 2017.

"With the labor market very tight, employers will struggle to resist," he said in a client note.

The unemployment rate was little-changed from prior months, declining a tenth of a point to return to the level recorded between June and August. However, the jobless rate among Hispanics fell sharply from 6.4 percent to 5.7 percent.

Arriving in the final moments of the US presidential elections, the results appeared unlikely to lift the fortunes of either Democrat Hillary Clinton or Republican Donald Trump.

Despite steady job creation, Trump has portrayed the United States as being in sharp economic decline and impugned the integrity of federal agencies which produce economic data.

Business services and healthcare saw strong gains, adding 43,000 and 31,000 positions respectively, with healthcare having grown by more than 400,000 positions over the previous 12 months.

Policymakers at the US Federal Reserve have so far held off raising US interest rates during 2016, hoping to avoid interrupting a fragile recovery, a position they reaffirmed this week.

However they have signaled their intention to increase rates as soon as December. Chris Williamson, chief business economist at IHS Markit, said Friday that the new jobs data  made this more likely.

Initial estimates for US growth in the third quarter showed the economy had expanded by 2.9 percent, a sign of regained momentum, he said.

"It seems that the only remaining obstacle to the Fed hiking in December would be a significant adverse financial market reaction to the US presidential election," Williamson said in a note to clients.

Labor force participation was little changed at 62.8 percent and the number of long-term unemployed was steady at 2.0 million people, about a quarter of total unemployment.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us unemployment rate falls to 49 on solid job creation us unemployment rate falls to 49 on solid job creation

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us unemployment rate falls to 49 on solid job creation us unemployment rate falls to 49 on solid job creation

 



GMT 10:18 2018 Thursday ,30 August

Iran incapable of closing Hormuz, Bab Al Mandeb

GMT 09:54 2018 Wednesday ,24 January

'Friendly and kind' N. Korean skaters

GMT 06:11 2018 Monday ,08 January

Merkel, Schulz vow 'new politics' for Germany

GMT 19:09 2016 Monday ,01 February

3 soldiers injured in el-Arish explosion

GMT 20:57 2017 Wednesday ,18 October

PCHR and MADA Condem Israeli forces closure

GMT 01:48 2017 Sunday ,25 June

Five arrested after Saudi foils attack

GMT 22:38 2016 Tuesday ,09 August

Putin meets with Turkish president in Russia

GMT 05:20 2013 Thursday ,08 August

Urban women show higher risk of postpartum depression

GMT 22:47 2011 Saturday ,03 December

Jay-Z & Beyonce May Buy Ricky Martin\'s Home

GMT 12:40 2017 Saturday ,29 July

Expats, Pakistanis hail court ruling

GMT 18:09 2017 Thursday ,19 October

Bahrain reiterates support for Palestinian people

GMT 09:52 2012 Sunday ,15 January

Lohan “FCUK” Fragrance Ad

GMT 10:46 2012 Monday ,23 January

Fiesta ST spies
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice