This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
Friday’s Non-Farm Payroll report showed the first monthly net loss in jobs in the US since the start of the recovery.
It wasn’t all bad news; November payrolls were adjusted higher. But the markets hadn’t really consolidated around a negative jobs number, so risk sentiment was affected.
Add on top of that the political debacle going on in Washington, the dollar has been getting stronger over uncertainty worries.
The NFP results were in line with what we saw at the beginning of the pandemic. This was a loss of jobs in the lower-pay sectors leading to a higher than expected increase in average pay.
The labor participation rate remained the same. People were laid off due to lockdowns, and there wasn’t an expectation of being able to find work again.
How is covid progressing on the ground?
Last Thursday marked the highest number of confirmed global covid cases.
The figure has gone down since then, as usual over the weekend.
Globally, the pandemic is far from over. T...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.