American employers create more than forecast jobs in October

  • by Ahmed Mamdouh
  • November 1, 2019, 16:41 AM
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The U.S. jobs report released on Friday showed that American employers created a more than forecast jobs in October, yet pay growth missed forecasts and unemployment surged.

Analysts predicted a job creation of 90,000 jobs, compared to the actual reading of 128,000, while the previous reading of 136,000 jobs was revised up to 180,000 job-gain in September.

Unemployment rate rose from its record low of 3.5 percent to 3.6 percent, moving in line with analysts’’ projections. 

The average hourly soared 0.2 percent last month after its stall in September, compared to estimates of 0.3 percent surge. The annual earnings growth settled at 3.0 percent.

The dollar index, which tracks the movements of the green currency versus a basket of major currencies, recovered its earlier losses to trade higher at 97.20 but still set for a weekly loss, as of 12:40 GMT.

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