He Employment growth in USA He slowed down More than expected in Januaryafter the strong profits of the previous two months, although one 4% unemployment rate It probably gives rise to Federal Reserve not to cut the rates at least until June.
One of lime and one of sand: data arise from Employment report of the Labor Department which was published on Friday also showed a strong salary growth last monthwith a Increased average income per hour, which should maintain consumer expense. The resistance of the labor market was the engine of economic expansion.
“This morning’s report can be considered a success, neither too hot nor too cold”said Jeffrey Roachchief economist of LPL Financial. “An unemployment rate of 4% is considered very low, which gives the Federal Reserve reasons to maintain (the rate of) federal funds No short -term changes“He added.
Non -agricultural payrolls
Non -agricultural payrolls increased by 143,000 jobs last monthafter a revised increase in 307,000 in December, the Labor Statistics Office of the Labor Department In your employment report. Moderation in increasing employment was also compensation for the good December behavior.
Economists expected the survey to throw an increase of 170,000 jobswhile estimates ranged between 60,000 and 250,000.
The statistics office said the forest fires in southern California And the cold temperatures in much of the country in January had no “perceptible effect” on payrolls, but the household survey showed that 573,000 people did not appear to work for climatic conditions, the highest figure for any January since 2011 since 2011 .
The employment report was also distorted by Annual reference reviewsthe new population weights and the updates of the seasonal adjustment factors, the model used by the government to eliminate seasonal data of the data.
The last employment report under the government of Joe Biden showed a slower employment growth between April 2023 and March 2024 of what had been reported.
Unemployment rate
The unemployment rate stood at 4%, although it is not directly comparable to 4.1% in December due to new population controlswhich only apply to January and following reports, which is a break in the series.
The Average hour per hour increased 0.5%after rising 0.3% in December. Salaries increased 4.1% in the 12 months after January, after advancing 4.1% in December.
The resistance of the labor market is the engine of economic expansion and gave margin to the Fed To pause the cuts of fees, while evaluating the impact of fiscal, commercial and immigration policies of the government of the government of Donald Trumpseen by economists as inflationary.
The FED maintained its reference interest rate to one day in the range of 4.25%-4.50%, after reducing it by 100 basic points since September, when it embarked on a relaxation cycle of relaxation of Monetary policy.
The official interest rate rose 5.25 percentage points in 2022 and 2023 to control inflation.
Source: Ambito
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