Non-farm employment in the US showed the fastest increase in 7 months, unemployment fell to the lowest level of the pandemic period

In the US, the non-farm payroll set was announced for March.

Exceeding the expectation of 916,647,000, it showed the best rebound after August.

It saw the lowest level of the pandemic period, falling from 6.2% to 6%.

Although it increased 0.1% per month, it failed to meet expectations of 4.5% per year.

The reviews are as follows:

The non-farm employment figure for February increased from 379 thousand to 468 thousand,

Average hourly earnings were revised up from 0.1% per month to 0.3% and down from 5.5% to 5.2% per year.

Figures for March show that the recovery in the US labor sector is gathering steam.

After the quarantine period, non-farm employment, which experienced the steepest decline in December, showed some recovery in January. In February, on the other hand, the data that was double what was expected in March

In addition to record financial support packages due to the pandemic, US President Biden announced an infrastructure and spending package of more than $ 2 trillion. While the tax title was the biggest issue in the package, yet to be voted on by parliament and the senate, the production-backed steps have received a positive response.

Noting that the packages that will support employment must continue throughout the year, the authorities emphasize the indispensable nature of direct aid and unemployment benefits.

Although the unemployment rate, which was above pre-pandemic levels, will decline this year, it is not likely to reach the 3% levels.

Investment / Necdet Erginsoy

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