Article Hero

Stronger-than-expected US non-farm payrolls

1604674726.jpg
Miguel A. Rodriguez
Miguel A. Rodriguez
06 November 2020
The number of jobs created increased, pushing the unemployment rate lower

After yesterday’s higher-than-expected unemployment claims, markets made their peace as they believed that the non-farm payrolls would be lower than forecasted.

The US Bureau of Labor Statistics proved them otherwise, showing that in the past month, 638,000 new jobs have been created, pushing the unemployment rate at 6.9%. The markets were looking for 595,000 jobs and an unemployment rate of 7.7%.

With an overall number of payrolls from May until now of roughly 12 million, there are still 10 million jobless people.

This comes after the US has reported more than 100,000 cases of COVID-19 infections.

However, the focus is now on the presidential election. Joe Biden and Donald Trump are looking to claim key states like Georgia, Nevada, and Arizona.

Meanwhile, USA30 lost 0.2%, while USA500 slipped 0.4% and TECH100 inched down 0.7%.

Sources: forexfactory.com, cnbc.com

Most affected instruments

Instrument background

TECH100

$

Most affected instruments

Instrument background

USA500

$

Most affected instruments

Instrument background

USA30

$

The information presented herein is prepared by CAPEX.com/eu 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.

Share this article

How did you find this article?

Awful
Ok
Great
awesome

Read More

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.