The US unemployment rate is on the rise.
Friday afternoon served weak July economic figures from the United States. It is slowly starting to look like the country is drifting towards recession.
The US unemployment rate rose from 4.1% in June to 4.3% in July. Economists were expecting a reading of 4.1 percent.
US private jobs increased by 97 thousand in July. The reading fell short of both the 140 thousand forecast and June’s 136 thousand.
Industrial jobs increased by one thousand, while they were expected to decrease by five thousand. In June, they decreased by eight thousand.
US non-agricultural jobs increased by 114 thousand, when an increase of 175 thousand was expected. In June, 206 thousand jobs were created.
Nordic chief analyst Jan Von Gerich commented on message service X that the employment report disappointed expectations for the worst time.
“The Fed is now pricing in a considerable risk of a half percentage point decline for the September meeting. However, it is worth waiting another month or two for more data,” he writes.
Source: www.arvopaperi.fi
