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 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 acquisitions compared to August, which saw the insertion of 315,000 jobs, Unemployment rate The decline is at its lowest in over half a century.
The Department of Labor report showed that the US government, the largest employer in the US market, has made a significant contribution. Added Cancel jobsdown 25,000 jobs from last month’s figures.
Reuters said economists suggested that companies would likely be reluctant to lay off workers after struggling to find them over the past year, after the Corona pandemic forced many to leave the labor market for reasons, including long-term symptoms caused by infection with the virus.
On several previous occasions, Jerome Powell, chairman of the Federal Reserve, has pointed out that his efforts and board members of the bank to curb the high rate of inflation will not bear fruit until the calm in the job market returns. has been burning for some time.
After raising the interest rate on the bank’s funds by 3% since last March and expecting to increase by another 1.25% during the remaining two meetings this year, investors fear that any positive news on the US economy may be an incentive for the largest central bank in the world to move towards further rate hikes.
During the first half of Thursday’s trading, the color red covered the US equity 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 yield increases, have risen, bringing the 10-year bond yield close to 3.9%, after being close to 3.7% the day before.
While government data this week showed new job opportunities fell by 1.1 million, which is the biggest drop since April 2020, available job opportunities still outnumber the number of unemployed by four million. Currently, there are 1.7 jobs for every unemployed person.
Data from the Labor Department also shows an increase in the average hourly wage of an American worker of 0.3% over the previous month, while the increase was 5% over the same month last year.
