US job creation misses forecasts, dollar stumbles

  • by Ahmed Mamdouh
  • September 6, 2019, 16:51 AM
  • 81 Views
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U.S. employers crated fewer than forecasts jobs in August, the non-farm payrolls report released on Friday showed, pushing the U.S. dollar lower.

Analysts predicted a job creation of 163,000 jobs, compared to the actual reading of 130,000, while the previous reading of 164,000 jobs was revised lower to 159,000 job-gain in July.

Unemployment rate remained unchanged at 3.7 percent, coming in line with median forecasts.

The average hourly earnings gained 0.4 percent last month after a 0.3 percent rise in July, surpassing estimates of 0.3 percent surge. The annual earnings growth reached 3.2 percent, down from a revised previous of 3.3 percent.

The dollar index, which tracks the movements of the green currency versus a basket of major currencies, widened its losses to hit a new session bottom at 98.23, set for a weekly loss, as of 12:50 GMT.

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