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American employers add fewer than forecast jobs

American employers add fewer than forecast jobs

The United States released the government jobs report for the month of January for the non-farm payrolls, where the data witnessed a fewer than forecast job creation pace in January and a significant improvement in unemployment rate.

The jobs report showed that the US economy created 49,000 new jobs in January, compared to expectations of 85,000 jobs, while the December reading was revised to show that the economy shed 227,000 jobs.

On the other hand, the unemployment rate decreased to 6.3%, compared to both previous and expectations of 6.7%. The average hourly wage index rose by 0.2% and expectations were higher by 0.3%, while the previous reading was revised to a 1.0% rise from 0.8%.

The dollar’s levels fell against a basket of six major currencies during trading on Friday, from its highest level in two weeks. The dollar index is currently trading at the level of 91.29 after it opened today’s trading at the level of 91.49, and it had recorded its highest level in two months at 91.60.

However, the dollar index is still on course for reporting its second straight weekly gain after it advanced over the previous four sessions. 


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