U.S. Unemployment Rate fell to 5.1%

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Friday, Sep 04 2015

Employers added 173,000 workers in August latest Non-farm payroll report showed. Analysts were predicting increase by 217,000. The gain in payrolls, while less than forecast, followed advances in July and June that were stronger than previously reported, the Labor Department said Friday. Average hourly earnings climbed more than forecast and workers put in a longer workweek, the report also showed.

Unemployment Rate fell to 5.1%, the lowest since April 2008 and a level that the Federal Reserve considers to be full employment, thus beating forecasts on fall to 5.2%. Persistent hiring indicates employers were upbeat about America’s demand prospects leading up to mounting concerns of further deterioration in emerging economies. Fed policy makers meeting in less than two weeks will weigh resilient U.S. employment conditions against the recent turmoil in world financial markets as they debate the timing of any interest-rate increase.

After the data USD gained against its major rivals. Euro is currently being traded few points above 1.1120 level, Sterling is slightly below 1.52 handle, while Aussie is around 0.6940 area.

More in this category: « August worst month for UK retailers since 2008 USD - Major events in the week ahead »

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