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Payrolls advanced by 211,000

Friday, Dec 04 2015
USD was pushed higher after 211,000 increase in payrolls which followed a 298,000 gain in October that was bigger than previously estimated, a Labor Department report showed Friday. The median forecast called for a 201,000 advance. The jobless rate held at a more than seven-year low of 5%.
 
A healthy rate of hiring has raised the odds that Fed officials will raise interest rates this month for the first time since 2006. The pace of future increases is contingent on progress toward the central bank’s inflation goal and probably depends on how quickly wage pressures mount as the job market tightens. 
 
Employee pay increased at a slower pace last month. Average hourly earnings at private employers rose 0.2 percent in November after a 0.4 percent gain. The year-over-year increase in hourly pay compared with a 2.3 percent increase in October.
 
Employment in November was spurred by the biggest increase in construction hiring since January 2014. Retailers, health-care providers and leisure and hospitality companies added jobs at a healthy, but slower pace than in October.
 
Euro is currently being traded few points above 1.0880 level, Sterling is around 1.51 handle, while Aussie is above 0.7290 area. 
Last modified on Friday, 04 December 2015
More in this category: « US Trade Balance deficit up by $1.4 billion USD - Major events in the week ahead »

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