Unemployment in America is at its lowest level in half a century (Getty)
American companies added 263,000 new jobs last September, bringing the unemployment rate down to 3.5%, which analysts considered negative. for US marketsIt gives the Fed more freedom if it wants to stick to the monetary tightening policy for a longer period of time.
Despite the decline in job additions compared to August, which saw the addition of 315,000 jobs, Unemployment rate The decline is at its lowest in more than half a century.
The report of the Department of Labor showed that the US government, the largest employer in the US market, contributed quite a bit to Job Additions Undodown 25,000 jobs compared to last month’s figures.
Archyde.com said that economists suggested that companies were likely to be reluctant to lay off workers following they faced difficulties in finding them in the past year, following the Corona pandemic forced many out of the labor market for reasons, including the long-term symptoms caused by infection with the virus.
On several previous occasions, Jerome Powell, Federal Reserve Chairman, stressed that his efforts and members of the bank’s board of directors to curb the high rate of inflation will not bear fruit until calm returns to the labor market that has been burning for a while.
After raising the interest rate on the bank’s funds by 3% since last March, and waiting to raise another 1.25% during the remaining two meetings this year, investors fear that any positive news regarding the US economy will be an incentive for the largest central bank in the world to move towards further rate hikes. .
During the first half of trading on Thursday, the red color covered the US stock and bond markets, and the loss of the Nasdaq index, most affected by high interest rates, exceeded 3%.
And US bond yields, whose value is declining as the yield rises, rose, bringing the 10-year bond yield close to 3.9%, following it was close to 3.7% the day before.
While government data this week showed that new job opportunities fell by 1.1 million, which is the largest drop since April 2020, available job opportunities still exceed the number of unemployed people by four million. Currently, there are 1.7 jobs for every unemployed person.
The data of the Ministry of Labor also showed an increase in the average hourly wage for an American worker by 0.3% compared to the previous month, while the increase was by 5% compared to the same month last year.
