Sunday, February 04, 2007

Forex News: 02.02.2007 Nonfarm payrolls in the USA in January below expectations

The number of new jobs excluding agricultural sector (nonfarm payrolls), rose in the USA by 111K in January, compared with 206K in the preceding month (revised from 167K), the Ministry of Trade reported.

On the ground of the preliminary December data (167K), the analysts expected the rise of indicator by 150K in January. The increase of average hourly wages was in January 0.2% ($17.09), compared with the growth by 0.4% (17.06) in the preceding month.

The unemployment rate was in January 4.6%, compared with 4.5% the month before. The substantial decrease of indicator indicates employment decline, which can contribute to major currencies growth toward dollar.


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