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Unemployment in the US in August unexpectedly reached 3.7%


September, 02 2022
watermark Economic news

In the USA, a monthly report from the Ministry of Labor was released, which surprised market participants. 


According to recent data, in August the number of jobs in the US economy increased by 315 thousand. Experts on average expected an increase of 298 thousand. In July, according to the revised data, the indicator increased by 526 thousand, and not by 528 thousand, as previously reported. In the private sector, the number of jobs increased by 308 thousand, in the public sector – by 7 thousand.


At the same time, unemployment reached its highest in six months, which came as a surprise to analysts who did not expect changes (3.7% compared to 3.5% in July). 


A significant increase in the number of jobs was noted in the field of professional and business services (68 thousand), healthcare (48 thousand) and retail (44 thousand). In industry, their number increased by 22 thousand, in the leisure and hotel business – by 31 thousand.


The average hourly wage in the private sector in August increased by 0.3% compared to the previous month, to $32.36. In annual terms, the indicator increased by 5.2%.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.