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Investing.com – A few hours earlier than expected, US labor market data is now out to give a glimpse of the .
The importance of the employment data issued today increases, because it gives an overview of the Fed’s move in the upcoming meetings, as if the data is positive, the Fed will motivate it towards more tightening and that the economy is still in good health, and vice versa, if the data is negative, the Fed may motivate that. Toward calm as a sign of slowing economy.
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Job Opportunities JOLTs
The American market provided 11.012 million jobs, while experts expected only 10.250 million jobs to be created.
Previous readings were revised to record 10.440 million jobs.
Job opportunity data is of great importance as it is an indicator of the state of the US labor market and its ability to keep up with the interest rate hike. Jerome Powell uses US job opportunities a lot when talking about the strength of the US market.
Employment Report for ADP
It was negative, which motivates the Fed towards calm in the future. Where the report stated that only 106 thousand jobs were added for the month of January, while experts expected the addition of 178 thousand jobs, and in December it had recorded about 253 thousand jobs.
This indicator determines the change in the level of those hired during the past month, with the exception of those hired in the agricultural sector. This indicator is published two days before the publication of the ADP Employment Report of the Official Bureau of Human Resources Statistics, which provides solutions in the field of employment for companies. Since its release in 2007, it has proven to be a good indicator for predicting the employment report.
dollar now
It has now fallen towards 101.643 levels, down by 0.25%.
right Now
Spot contracts recorded levels of $1925 an ounce, down by about 0.2%.
While it recorded levels of 1939 dollars an ounce, down by about 0.35%.
