The market evaluates statistics from the US and news from China
According to the report of the us Department of labor, the number of employees outside the agricultural sector increased by 157,000 people in July. This was below the analysts ‘ forecast: it was assumed that last month 193 thousand jobs would be created in the US. At the same time, the value of the employment report from the us Department of labor for June was revised upwards to 248,000 jobs compared to the initial estimate of 213,000 jobs.
The us unemployment rate fell to 3.9% after 4.0% in the previous month. The value of the indicator coincided with the forecast.
Average hourly wages in the US rose 0.3% in July, which coincided with the forecast. However, the June figure was revised from 0.2% to 0.1%. Last month’s annual salary growth was 2.7%, which is in line with the June indicator and consensus forecast.
The increase in wages is closely monitored by the fed as evidence of rising labor market demand and subsequent inflationary pressures. Economists believe that the target inflation growth requires annual wage growth at 3.0% or higher.
The underemployment rate was 7.5 per cent, compared to 7.8 per cent earlier, the lowest since 2001.