261,000 new jobs were created in the US in October – 193,000 in advance were expected.
In October, 261,000 new jobs were created in the United States outside of the agricultural sector. This is what the latest figures from the US authorities showed.
In advance, analysts expected 193 thousand new jobs.
The number is often referred to as the “most important month,” because it describes activity in the world’s largest economy.
The unemployment rate rose to 3.7 percent. Up from 3.5 in the previous month.
Wage growth was 4.7 percent, compared to the same month last year and down from 5 percent in September this year.
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In the United States, there is a high demand for employment and unemployment is relatively low. Meanwhile, the central bank is struggling with price hikes, and this week raised interest rates by 0.75 percentage points for the fourth time.
Labor market growth and wages help drive inflation higher, and job numbers are taken into account when the US Central Bank (Fed) considers how to raise interest rates next.
So far, employment in the United States has been very high. As long as more than 100,000 new jobs are created, that means the job market will be tighter. For now, the Fed wants the opposite, Danske Bank chief strategist Anders Johansen wrote in an email to E24.
In September, 263,000 new jobs were created in the United States. This was higher than expected, when the consensus of analysts was 255,000.
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