FOREX TradingCharts.com

Financial News: U.S. Employment Jumps Much More Than Expected In

U.S. Employment Jumps Much More Than Expected In May

06/01/2018 - 09:10:00 (RTTNews)

(RTTNews) - Employment in the U.S. jumped by much more than anticipated in the month of May, according to a report released by the Labor Department on Friday.

The Labor Department said non-farm payroll employment surged up by 223,000 jobs in May after climbing by a downwardly revised 159,000 jobs in April.

Economists had expected employment to increase by 188,000 jobs compared to the addition of 164,000 jobs originally reported for the previous month.

The stronger than expected job growth reflected a continued uptrend in employment in several industries, including retail, healthcare, and construction.

"In short, the economy and labor market appear to be firing on all cylinders, with all sectors showing strength," said Paul Ashworth, Chief U.S. Economist at Capital Economics.

He added, "The big difference between now and a year ago, however, is that decent gains in manufacturing and mining are complementing the steady growth in service sector employment."

With the jump in employment, the unemployment rate edged down to 3.8 percent in May from 3.9 percent in April. The unemployment rate had been expected to come in unchanged.

The modest decrease pulled the unemployment rate down to its lowest level since a matching rate in April of 2000.

The drop in the unemployment rate came as the household survey measure of employment showed a spike of 293,000 compared to the 12,000 person uptick in the size of the labor force

The report also said average hourly earnings in May were up by 2.7 percent compared to the same month a year ago, reflecting an acceleration from the 2.6 percent year-over-year growth seen in April.

"Overall, the U.S. economy looks strong," Ashworth said. "In that environment, we still expect the Fed to hike interest rates an additional three times this year."

President Donald Trump hinted at the better than expected jobs data in a post on Twitter ahead of the release of the report.

"Looking forward to seeing the employment numbers at 8:30 this morning," tweeted Trump, although presidents typically get to see the jobs report the night before they are officially released.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Germany's Producer Price Inflation At 7-Month High (01 hr(s), 06 min(s), 55 sec(s) ago)
(RTTNews) - Germany's producer prices increased at the fastest pace in seven months in May, fi ...Full Story»

Australia's Leading Index Signals Slow Growth: Westpac (01 hr(s), 52 min(s), 55 sec(s) ago)
(RTTNews) - Australia's leading index signaled slower growth over the second half of 2018, dat ...Full Story»

Estonia PPI Inflation Eases In May (02 hr(s), 01 min(s), 55 sec(s) ago)
(RTTNews) - Estonia's producer price inflation eased for the second straight moth in May, data ...Full Story»

Malaysia Inflation Accelerates As Expected In May (02 hr(s), 49 min(s), 55 sec(s) ago)
(RTTNews) - Malaysia's consumer price inflation accelerated in May, in line with expectations, ...Full Story»

New Zealand Has Unadjusted NZ$182 Million Current Account Surplus (22 min(s), 05 sec(s) ago)
(RTTNews) - New Zealand posted an unadjusted current account surplus of NZ$182 million in the firs ...Full Story»

New Zealand Unadjusted Q1 Current Account Surplus NZ$182 Million (52 min(s), 05 sec(s) ago)
(RTTNews) - New Zealand had an unadjusted current account surplus of NZ$182 million in the first q ...Full Story»

BRAZIL: Ibovespa Rises 2.26%, Rebounding On Banking Shares And Copom (23 min(s), 05 sec(s) ago)
(RTTNews) - After falling in four consecutive trading days, the Ibovespa closed up 2.26% to 71,394 ...Full Story»

New Zealand Consumer Confidence Slows In Q2 (07 min(s), 05 sec(s) ago)
(RTTNews) - Consumer confidence in New Zealand continued to be positive in the second quarter of 2 ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Germany's Producer Price Inflation At 7-Month High

06/20/2018 - 02:16 AM (RTTNews)
(RTTNews) - Germany's producer prices increased at the fastest pace in seven months in May, fi ...Full Story>>

Australia's Leading Index Signals Slow Growth: Westpac

06/20/2018 - 01:30 AM (RTTNews)
(RTTNews) - Australia's leading index signaled slower growth over the second half of 2018, dat ...Full Story>>

Estonia PPI Inflation Eases In May

06/20/2018 - 01:21 AM (RTTNews)
(RTTNews) - Estonia's producer price inflation eased for the second straight moth in May, data ...Full Story>>

Malaysia Inflation Accelerates As Expected In May

06/20/2018 - 00:33 AM (RTTNews)
(RTTNews) - Malaysia's consumer price inflation accelerated in May, in line with expectations, ...Full Story>>

New Zealand Has Unadjusted NZ$182 Million Current Account Surplus

06/19/2018 - 19:45 PM (RTTNews)
(RTTNews) - New Zealand posted an unadjusted current account surplus of NZ$182 million in the firs ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.