(Finance) – Growing more than expected, as regards the much-observed data on non-farm payrolls, the labor market in the USA in February 2023. According to data provided by the Bureau of Labor Statistics, the unemployment rate it rose to 3.6% from 3.4% the previous month and the consensus.
311 thousand were added jobs in non-farm payrolls, after 504,000 payrolls were created in January (revised from 517,000). The data on employed people, more observed than the unemployment rate, is better than market expectations which indicated an increase of 205,000 jobs.
The figure is better than expected even in the private sector: 265,000 jobs were added, against forecasts of an increase of 210,000 and compared to the revised 386,000 in January.
The employees of the manufacturing sector they fell by 4 thousand units, below the consensus of +12 thousand, and compare with the +13 thousand of the previous month.
The average hourly wages they stood at $33.09, an increase of 0.2% on the month and 4.6% on the year after the +0.3% on the month and +4.4% on a year-on-year basis recorded in January. Average hourly wages are closely monitored by the Federal Reserve as a good indicator of both the health of the labor market and inflationary pressures.
(Photo: Photo by Saulo Mohana on Unsplash)