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LaborTitle:
Employment: Cyclical Gain, Structural Problems Persist
April employment rose 115,000, with the unemployment rate down to 8.1 percent, driven by a drop in the labor force participation rate. With subpar job gains, structural issues further complicate the outlook.
Employment Growth: Subpar Consistent with Moderate Growth
Employment was up 115,000 in April, with gains in many sectors, e.g., manufacturing, education and health and business services, as illustrated in the top graph. Weakness in construction and government did contribute to the smaller-than-expected gain, but the payback for favorable seasonal adjustment factors earlier this year appears to have affected the data. Over the past three months, the average gain in jobs has been 176,000, with private sector jobs averaging 183,000. Manufacturing gains over the past three months have ...
Title:
U.S. hiring slows, raising worries on recovery
(Reuters) - U.S. employers cut back on hiring in April and more people gave up the hunt for work, dimming hopes the economy was turning a corner just as President Barack Obama prepared to launch his re-election campaign.
Employers added 115,000 workers last month after increasing payrolls 154,000 in March, the Labor Department said on Friday. Economists had expected to see the creation of 170,000 jobs.
The unemployment rate ticked a tenth of a point lower to 8.1 percent, a three-year low, but only because people left the workforce.
It was the third straight month in which hiring slowed, intensifying fears that the U.S. recovery is losing momentum and opening the door a bit wider for the Federal Reserve to ease monetary policy.
"The bottom line is you don't have evidence that this ...
Title:
Global shares, oil slide on U.S. payrolls
(Reuters) - Global stocks and crude oil fell on Friday after a bleak U.S. payrolls report for April and economic data from Europe that pointed to a deeper recession across the euro zone than previously thought heightened concerns about slowing economic growth.
U.S. employers cut back on hiring in April and the jobless rate fell as Americans gave up the hunt for work. Employers added just 115,000 workers to their payrolls last month, the Labor Department said.
The second straight monthly decline in hiring growth kept fears alive that the U.S. economy is losing momentum and doused hopes that a stretch of strong winter hiring had signaled a turning point for the U.S. recovery.
"The U.S. economy is not growing fast enough to improve the job market. When all is said and done that is the most ...
Title:
Poor employment picture doesn't help the greenback
The U.S. economy created 115,000 new jobs in April, below market consensus of around 170,000 and the last month’s revised up reading of 154,000. Meanwhile, unemployment rate ticked lower to 8.1% from 8.2% on a declining labor force of nearly 350,000 workers. Earnings dropped as well, printing zero percent growth.
The figures all indicate a sluggish employment recovery, hinting the economy is still far from normal employment levels of pre-crisis times. Thus, we may see further pressure on the U.S. dollar as QE3 expectations could build up.
The EUR/USD pair has been trading in narrow range since morning and before the NFP, however the pair is currently attempting to regain upside momentum on a weaker dollar, a retest of 1.3175 resistance is possible now, and a break above could lead to 1. ...
Title:
U.S. April hiring slows, jobless rate falls to 8.1 percent
(Reuters) - Employers cut back on hiring in April and the jobless rate fell as people gave up the hunt for work, a somber note on the economy that could hurt President Barack Obama's re-election chances.
Employers added just 115,000 workers to their payrolls last month, the Labor Department said on Friday.
It was the third straight month in which hiring slowed, keeping fears alive that the U.S. economy is losing momentum. It also dampens hopes that a stretch of strong winter hiring signaled a turning point for the recovery.
"It shows sluggish growth," said John Doyle, currency strategist at Tempus Consulting in Washington.
The unemployment rate ticked a tenth of a point lower to 8.1 percent, a three-year low, as people left the workforce. The jobless rate is derived from a separate ...
Title:
Oil at 3-month lows under $115 after U.S. jobs data
(Reuters) - Oil fell to three-month lows of under $115 per barrel on Friday and was on course for its steepest weekly fall since December after a weak U.S. jobs report added to doubts about the pace of economic recovery in the world's biggest oil consumer.
U.S. employers hired 115,000 workers last month, the Labor Department said on Friday, which was below the 170,000 new jobs forecast and led to concerns that demand growth could stall.
By 1241 GMT, Brent crude oil futures lost $1.48 to $114.60 a barrel, lows not seen since early February this year.
U.S. crude fell by $1.87 to $100.67, levels not seen since mid-April.
"The poorer U.S. economic data from the past two days have sparked doubts that oil demand will recover in the US, the world's largest consumer of oil," Commerzbank oil ...
Title:
Euro Declines on Downbeat Services Data, Eyes Still on U.S. Jobs Report
As this week comes to an end, markets are standing still awaiting the performance of the labor market in the world's largest economy for more details regarding the pace of recovery; however, markets retreated slightly against the low yielding U.S. dollar after the downbeat performance of the European services sectors which contracted significantly in April, raising fears of recession and deep contraction.
Investors are demanding more of the low yielding U.S. dollar in order to avert as much risk as possible, especially as this week comes to an end, where investors remain in the market awaiting the U.S. jobs report; however, at the same time they tend to avert risk therefore holding the U.S. dollar is the best choice, especially with speculation the jobs report will show improvement in the ...
Title:
Dukascopy Morning Forex Overview : 04/05/2012
Fundamental Analysis
EUR
"Technically, easier monetary policy conditions should be currency negative."
- Jane Foley, analyst at Rabobank
The European Central Bank held key rate at 1 per cent on Thursday and told it expects a gradual economic recovery this year.
USD
"Labor market conditions have improved in recent months."
- Federal Open Market Committee
The number of Americans claiming for unemployment benefits tumbled to 365,000 in the week ended April 28 from 392,000 the week before, said the Department of Labor on Thursday.
GBP
"The service sector started the second quarter on a weaker note than in the first quarter, but continued to grow at a reasonable pace."
- Chris Williamson, chief economist at Markit
U.K. service sector growth slowed in April, Markit Economics data showed on ...
Title:
ECN monetary policy unchanged; Market cautious ahead of US jobs report
Forex Morning Briefing : ECN monetary policy unchanged; Market cautious ahead of US jobs report
What’s new:
Forex: Euro recovers after ECB President Mario Draghi’s news conference
Global Markets: Asian stocks close in positive territory
Euro zone: ECB leave rates unchanged at 1.00 percent, Draghi sounds less dovish
Europe: Focus on French and Greek elections this weekend
United States: Shares down before US jobs data release today
United States: Jobless claims fall to one-month low, today’s jobs report in focus
Rates in Asia and Indices:
EUR/USD 1.3144 1.3163 -0.00 %
USD/CHF 0.9129 0.9141 -0.01 %
GBP/USD 1.6177 1.6195 0.05 %
USD/JPY 80.14 80.28 0 %
EUR/CHF 1.2014 1.2017 -0.00 %
EUR/JPY 105. ...
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