FOREX TradingCharts.com

Financial News: U.S. Employment Unexpectedly Decreases By 140,000 Jobs In

U.S. Employment Unexpectedly Decreases By 140,000 Jobs In December

01/08/2021 - 09:05:00 (RTTNews)

(RTTNews) - After reporting slowing job growth over the past few months, the Labor Department released a report on Friday unexpectedly showing a decrease in U.S. employment in the month of December.

The Labor Department said non-farm payroll employment fell by 140,000 jobs in December after climbing by an upwardly revised 336,000 jobs in November.

The decline surprised economists, who had expected employment to increase by about 71,000 jobs compared to the addition of 245,000 jobs originally reported for the previous month.

Employment decreased for the first time since April as the recent surge in coronavirus cases led to a nosedive in employment in the leisure and hospitality sector, which lost 498,000 jobs.

Private education employment also declined, while the job losses were partially offset by gains in professional and business services, retail trade, and construction.

Meanwhile, the report said the unemployment rate came in at 6.7 percent in December, unchanged from November. Economists had expected the unemployment rate to inch up to 6.8 percent.

The unemployment rate came in unchanged as the labor force inched up by 31,000 persons compared to a 21,000 person uptick in the household survey of employment.

The report said average hourly employee earnings climbed $0.23 or 0.8 percent to $29.81. Annual wage growth jumped to 5.1 percent in December from 4.4 percent in November.

"Looking ahead, continued restrictions on dining could see payrolls fall further in January," said Michael Pearce, Senior U.S. Economist at Capital Economics.

He added, "But, with the high-frequency indicators suggesting that the rest of the economy is still holding up and additional fiscal stimulus starting to feed through, we expect first-quarter GDP growth to be positive."

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Business Inventories Increase In Line With Estimates In November (04 hr(s), 38 min(s), 55 sec(s) ago)
(RTTNews) - Business inventories in the U.S. increased in line with economist estimates in the mon ...Full Story»

Bank Of Italy Sees 3.5% GDP Growth This Year (04 hr(s), 53 min(s), 55 sec(s) ago)
(RTTNews) - The Italian economy is set to expand this year and next, but will return to pre-pandem ...Full Story»

UK Economy To Log Negative Growth In Q1: NIESR (05 hr(s), 04 min(s), 55 sec(s) ago)
(RTTNews) - The UK economy is set to log negative growth in the first three months of this year, ...Full Story»

U.S. Consumer Sentiment Dips More Than Expected In January (05 hr(s), 11 min(s), 55 sec(s) ago)
(RTTNews) - Preliminary data released by the University of Michigan on Friday showed a modest dete ...Full Story»

U.S. Industrial Production Jumps Much More Than Expected In December (05 hr(s), 28 min(s), 55 sec(s) ago)
(RTTNews) - The Federal Reserve released a report on Friday showing U.S. industrial production jum ...Full Story»

New York Manufacturing Index Unexpectedly Indicates Slower Growth In January (05 hr(s), 50 min(s), 55 sec(s) ago)
(RTTNews) - Activity in the New York manufacturing sector unexpectedly grew at a slower pace in th ...Full Story»

U.S. Producer Prices Rise Slightly Less Than Expected In December (05 hr(s), 58 min(s), 55 sec(s) ago)
(RTTNews) - A report released by the Labor Department on Friday showed U.S. producer prices increa ...Full Story»

U.S. Retail Sales Continue To Slump Amid Spike In Coronavirus Cases (06 hr(s), 11 min(s), 55 sec(s) ago)
(RTTNews) - Retail sales in the U.S. continued to decline in the month of December, according to a ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Business Inventories Increase In Line With Estimates In November

01/15/2021 - 10:45 AM (RTTNews)
(RTTNews) - Business inventories in the U.S. increased in line with economist estimates in the mon ...Full Story>>

Bank Of Italy Sees 3.5% GDP Growth This Year

01/15/2021 - 10:30 AM (RTTNews)
(RTTNews) - The Italian economy is set to expand this year and next, but will return to pre-pandem ...Full Story>>

UK Economy To Log Negative Growth In Q1: NIESR

01/15/2021 - 10:19 AM (RTTNews)
(RTTNews) - The UK economy is set to log negative growth in the first three months of this year, ...Full Story>>

U.S. Consumer Sentiment Dips More Than Expected In January

01/15/2021 - 10:12 AM (RTTNews)
(RTTNews) - Preliminary data released by the University of Michigan on Friday showed a modest dete ...Full Story>>

U.S. Industrial Production Jumps Much More Than Expected In December

01/15/2021 - 09:55 AM (RTTNews)
(RTTNews) - The Federal Reserve released a report on Friday showing U.S. industrial production jum ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.