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Employment in the US increased much less than expected


October, 08 2021
watermark Economic news

Today, the US Department of Labor presented its September report on employment in the country. Market participants were waiting for this data with interest, as it usually has an impact on the actions of the Federal Reserve System.


According to Nonfarm Payrolls, in September the number of jobs outside agriculture increased by only 194 thousand jobs. Analysts' forecasts suggested an increase of up to 500 thousand. The data for August were revised upward: from 235 thousand to 366 thousand jobs.


Employment in the US has increased much less than analysts predicted, but it is expected that hiring may increase in the coming months as the coronavirus infection subsides and people resume looking for work.


The unemployment rate fell to 4.8% from 5.2% in August, which somewhat smoothed the weakness of the report. Analysts had expected unemployment at 5.1%.


And although today's employment report will not change the Fed's plans to begin winding down the asset purchase program, the US dollar still came under pressure. Gold, on the contrary, began to grow.


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