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Job growth skyrockets in the US

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Miguel A. Rodriguez
Miguel A. Rodriguez
06 July 2021
According to the latest figures from the Bureau of Labor Statistics, job growth surged in June

Last month the number of non-farm payrolls reached 850,000 compared to the 725,000 forecasted by the market. The promising figures came from the accelerated hiring. The second quarter brought with it a return to work of Americans who lost their jobs because of the COVID-19 pandemic. Hospitality continued to be the leading sector that benefited from the economic reopening as people returned to employment at bars, restaurants, and hotels, with 343,000 jobs added.

Despite the NFP, the unemployment rate rose to 5.9% against the 5.6% expected.

Still, economists are looking for a GDP growth of 10% in the second quarter, potentially marking a continuation of an economic rebound.

Following the news, markets rose modestly, with USA500 hit a new record high, rising for seven consecutive sessions. TECH100 climbed 0.81%, reaching a record of 14,639.33.

Sources: cnbc.com, forexfactory.com

This information/research prepared by Andreas Thalassinos does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.