Tuesday, 19 November 2019
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
U.S. Payrolls Rise 130,000, Boosted by 25,000 for Census Count
Friday, 6 September 2019 19:59 WIB | ECONOMY |Ekonomi ASNon-Farm EmploymentU.S.Unemployment

U.S. companies' hiring stumbled in August, likely cementing expectations for a second straight Federal Reserve interest-rate cut as trade uncertainty and softer global growth weigh on the outlook.

Private payrolls rose 96,000, a three-month low, after a downwardly revised 131,000 advance the prior month, according to a Labor Department reportFriday that trailed the median estimate of economists for a 150,000 gain. Total nonfarm payrolls climbed a below-forecast 130,000, which was boosted by 25,000 temporary government workers to prepare for the 2020 Census count.

The jobless rate held at 3.7%, near a half-century low, while average hourly earnings topped forecasts with a 3.2% gain from a year earlier and 0.4% from the prior month.

The data suggest bigger cracks are forming in the labor market, which could threaten the chief U.S. economic engine of consumer spending and the record-long expansion itself -- along with President Donald Trump's re-election chances in 2020. With the U.S.-China trade war and weakness abroad already weighing on the outlook and Treasury yields down sharply this year, calls may grow for the Fed to cut interest rates this month by a half point instead of a quarter point.

Fed Chairman Jerome Powell will have a chance to clarify the central bank's outlook on Friday. He is due to speak at 12:30 p.m. New York time, answering questions from a moderator at the University of Zurich.

Economists surveyed by Bloomberg had projected 160,000 new nonfarm jobs with unemployment at 3.7% and annual wage gains at 3%.

Revisions subtracted 20,000 jobs from the prior two months, bringing the three-month nonfarm average to 156,000.

Private employers added an average 129,000 jobs over the last three months. The latest figures contrast with ADP Research Institute data this week showing U.S. companies added 195,000 jobs in August.

Still, there were several signs the labor market remains solid. The participation rate, or share of working-age people in the labor force, increased to 63.2%, while the employment-population ratio rose to 60.9%, both up 0.2 percentage point from the prior month.

That reflected the household survey's count of employment rising by 590,000, while the number of unemployed people fell by 19,000 to 6.04 million.

In addition, two key early indicators of weakness in the U.S. jobs market -- hiring for temporary-help positions and weekly working hours -- strengthened in August.

Source : Bloomberg

RELATED NEWS
U.S. Retail Sales Rebound in October, But a Small Group of Stores Reap Most of the Gains...
Friday, 15 November 2019 21:05 WIB

Sales at gas stations, car dealers and internet stores such as Amazon rose in October, but most other retailers posted weak results just before the start of the critical holiday shopping season. Reta...

U.S. Wholesale Prices Get Gasoline Bump in October, PPI Shows...
Thursday, 14 November 2019 20:52 WIB

The wholesale cost of U.S. goods and services posted the sharpest increase in October in six months, but aside from higher gas prices, there was little inflation to be found. The producer price index...

UK Retail Sales Drop 0.1% MoM in October vs. +0.2% Expected...
Thursday, 14 November 2019 16:49 WIB

The headline UK retail sales came in to show an unexpected fall of 0.1% in October as compared to 0.2% growth expected and a flat reading recorded in the previous month. Meanwhile, the core retail sal...

German economy dodges recession with 0.1% expansion in Q3...
Thursday, 14 November 2019 14:35 WIB

The German economy escaped a recession in the third quarter as strong consumer spending helped output grow 0.1% quarter-on-quarter, defying expectations of a contraction, preliminary data showed on Th...

Australia Employment Unexpectedly Drops in October; Dollar Falls...
Thursday, 14 November 2019 08:33 WIB

Australian employment unexpectedly declined in October, rekindling the prospect for additional interest-rate reductions and sending the local currency lower. Jobs fell 19,000 from September, compared...

LATEST NEWS
North Korea Says It Doesn't Want to Talk to US

North Korea said Monday that while it views the U.S. decision to postpone joint military drills with South Korea as "positive," the adoption of a U.N. resolution criticizing the North's human rights record has soured its desire to have...

Tokyo shares retreat as firmer yen weighs on exporters

Japan's stock benchmark Nikkei edged down on Tuesday as investors await clarity on the progress of U.S-China trade negotiations, with exporters pressured by a firmer yen against the dollar. The Nikkei share average dropped 0.2% to 23,361.35 in...

Gold Holds Gain on Trade Doubts, Powell-Trump Meeting

Gold held an advance as investors continued to await signs of progress in U.S.-China trade negotiations amid lingering doubts that a first-phase deal will be pushed through to a successful conclusion. Bullion rose on Monday as traders weighed...

POPULAR NEWS
Gold Edges Up On Chinese Worry Over Trump Impeachment
Tuesday, 19 November 2019 03:44 WIB

Gold was back on track to being a hedge to the trade war on Monday after talk of Beijing™s anxiety over President Donald Trump™s impeachment...

Gold Slides as ETF Holdings Drop, Trade Talks Progress
Monday, 18 November 2019 16:00 WIB

Gold declines after a narrow weekly advance as investors awaited fresh developments on the trade front and weighed data that showed a drop in...

Gold Steady With Trade Developments, ETFs in Focus
Monday, 18 November 2019 09:36 WIB

Gold was little changed after a narrow weekly advance as investors awaited fresh developments on the trade front and weighed data that showed a...

Hong Kong stocks start with gains
Monday, 18 November 2019 09:05 WIB

Hong Kong stocks opened higher Monday following another record-setting close on Wall Street, though traders remained on edge as the city was wracked...