Notifications Bell

Strong February non-farm payrolls

Strong February non-farm payrolls

Job growth gained ground in February, posting the biggest monthly gain since July

According to the latest data from the Labor Department, the non-farm payrolls grew by 678,000 in February, and the unemployment rate came in at 3.8%. Both figures came in better than 407,000 and 3.9%, respectively forecasted.

Leisure and hospitality led the way, adding 179,000 jobs for the month. It was followed suit by professional and business services – 95,000 and health care – 64,000.

The figures showed that the market has started to bring employed Americans closer to the pre-pandemic level, though still short by 1.14 million. Labor shortages continue to be a significant obstacle to filling the 10.9 million jobs open at the end of 2021.

Markets didn’t pay much attention to the readings, as investors focused on the Russia-Ukraine war.

Sources: cnbc.com, forexfactory.com

The information presented herein is prepared by CAPEX.com and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.

Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.