US: Job creation started the year on a strong note – UOB

Alvin Liew from UOB Group’s Global Economics & Markets Research reviewed the recently published US labour market report.

Key Quotes

“2020 started strongly for US employment creation, as the US economy added 225,000 jobs in January ... There was no significant revision to the jobs data of the preceding two months as the increase for December (147,000 from 145,000) was offset by the November revision (261,000 from 263,000).”

“The private sector was again responsible for most of the US jobs creation with 206,000 (markedly higher from the 142,000 in December) while the government added 19,000 jobs (from +5,000 in December). And within the private sector, job creation was mainly concentrated in services-providing industries (174,000) while goods-producing industries added 32,000 jobs as the declines in manufacturing (-12,000) was more than offset by the 44,000 construction jobs added in January.”

“US unemployment rate inched up slightly to 3.6% in January (from 3.5% in December) despite the strong jobs print as labor participation rate also climbed higher to 63.4% (from 63.3% in December), matching the highest participation rate since June 2013. US wage growth came in above market expectations, rising by 0.2% m/m, 3.1% y/y from 0.3% m/m, 3.0% y/y in December. US wage gains has been at or above 3% on a y/y basis since July 2018.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD looks to test 1.0800 ahead of German ZEW

Despite the latest recovery attempt from a new 34-month of 1.0823 reached in early Asia, the sentiment around the EUR/USD pair remains undermined by the German economic growth concerns and broad US dollar strength. Focus on German ZEW, coronavirus updates.


GBP/USD extends losses to sub-1.3000 area, UK unemployment rate in focus

GBP/USD stays mildly negative around 1.30 while heading into the London open on Tuesday. UK’s Brexit negotiator shares the same view as PM Boris Johnson, increases the risks of hard departure. UK employment statistics will be the key to clarify on the BOE’s bearish bias.


UK jobs preview: 3 reasons why Cable could bounce even if wage growth slows

Lower wages are bad news for workers and usually also for the pound – but these are abnormal times, and sterling may shine in response to the UK's December jobs report. The focus is on wage growth 

Read more

Gold: Positive beyond six-week-old falling trendline

Gold prices take the bids to $1,586.50, +0.35%, during the pre-European session on Tuesday. The yellow metal recently broke a downward sloping trend line stretched from January 08. Early-month top on the buyer’s radar.

Gold News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info