Many economists are expecting the data to show somewhat lower job growth than in January. This has been put down to seasonal temporary jobs related to couriers and shipping services as more people shop on the internet has declined for obvious reasons. A survey of economists showed that the consensus of the figure is 130k, down from 200k in January. 40k of this decline that is expected has been put down to the temporary jobs over the holiday season. It is being called ‘seasonal noise’.
Weekly jobless: has been below 400k for two months and the four week moving average has fell to 377k last week, this is a sign the employment situation is still improving. ADP: this showed a gain of 170k private sector jobs, but was still miles below January’s number.
It is said that there has been a boost in vehicle assembly production in the US due to a drop of production in Southeast Asia in Q4. Bu it was also noted that due to better than expected whether at the end of last year means there was more temporary construction and mining jobs as well as most service sector providing support, these people tend not to work as much in January. ISM manufacturing supported this as the employment index fell slightly but still remained above 50.
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