By Lucia Mutikani
Employment gains in the United States it has more slow than expected in January, since disappeared increase towards unseasonably warm weather setting, but wages and unemployment at a low level increases in eight years suggests that the labor market resume remains fixed.
nonfarm payrolls increased 151,000 last month of jobs and the unemployment rate fell to 4.9 percent, its lowest level since February 2008. the Labor Department said Friday.
Data for November and December were revised to show 2000 fewer jobs created than previously reported. Economists polled by Reuters was an increase of 190,000 jobs in January and the unemployment rate unchanged at 5 percent expected.
Even the sting in the number of softer payrolls take employers increased time for workers. Manufacturing, which has been undermined by a strong dollar and weak global demand, added to the largest number of jobs since August, 2013.
"That ... is a warning to markets that it is still too early to fully take over a hike from the Federal Reserve Mars off the table," said Mohamed El-Erian, chief economic adviser to Allianz in Newport Beach, California.
The dollar rose against a basket of currencies on data as a trader this year saw more rate hikes. Prices of US Treasuries fell and stock futures extended losses US.
more stringent conditions on the financial markets had undermined the event of an increase in interest rates by the Federal Reserve next month. The US Federal Reserve raised its key interest rates in the short term in December for the first time in nearly a decade.
President of the Federal Reserve, Janet Yellen, said the economy to create nearly 100,000 jobs in the month, must cope with the growth of the population of working age.
The net profit of gradual decrease fast clip in employment in the fourth quarter is mainly due to the recovery of warmer temperatures in recent years in sensitive sectors increased attitude to survive, such as structural conditions. January employment also lost the elevator Couriers & contract which has been supported online in November and December of strong Christmas sales.
Coming on the heels of a sharp slowdown in economic growth in the fourth quarter and a strong market sell-values, rather optimistic employment report details could closely alleviate concerns over the economic outlook.
full employment
The economy at an annual rate of 0.7 percent in the fourth quarter grew, supported by headwinds back, including a stronger dollar and the steps taken by the company efforts to sell inventory.
Even with the slower employment growth, wages have recovered strongly to keep stable after in December. Average hourly wages rose 12 cents, or 0.5 percent. This left the decreased year on year increase of 2.5 percent gains as exceptionally high wage increases in January 2014 recorded out of the picture.
But linked to the unemployment rate in the range of most economists with full employment, we expect wage growth to pick up this year.
With its January employment report, the Government published its annual review "baseline" and the formulas used to update in order to smooth the data of regular seasonal fluctuations. It also includes new estimates of the population.
The government said the level of employment in March last year was was 206,000 lower in seasonally adjusted as reported. Move the figures middle control population in the labor market or the number of employees or the unemployed in January they are not directly comparable to December.
The participation rate in the labor market or the Americans of working age, at least looking for work was used 62.7 percent, nearly four decades depths.
The low turnout could crimp growth in employment and labor supply decreases, but a significant increase in wages will attract more people into the labor market.
In January all jobs are gains were in the private sector, which added 158,000 jobs. The services sector led the increase in payrolls last month, with 118,000 jobs.
Mining lost 7,000 more jobs, while the ailing manufacturing sector unexpectedly added 29,000 positions.
Mining payrolls fell by 146,000 from the peak in September 2014. About three quarters of job losses in this period were in support activities for mining.
Further losses are likely showed according to a report Thursday that energy companies announced in January to dismiss 20,246 workers. Oil prices are about 70 percent in the last 18 months, the companies and oilfield services Schlumberger forces (like SLB.N ) to reduce its size.
Construction payrolls of 18,000 increased cooling after strong growth in the fourth quarter. Jobs in the post fell 14,400. Employment in this sector added 57,700 jobs after losing to strong 800 jobs in December. But could slow hiring in the coming months after announced a number of retailers, including Wal-Mart and Macy dozens of store closures.
Employment in temporary help services fell 25,200 last month and the government wage bill decreased by 7,000.
(Reporting by Lucia Mutikani; Additional reporting by Jennifer Ablan in New York; sectional Andrea Ricci )
No comments:
Post a Comment