Saturday, January 23

Tag: labour market

US: Labour market could deteriorate in the next months
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US: Labour market could deteriorate in the next months

Alvin Liew at UOB Group’s Global Economics & Markets Research assessed the latest Nonfarm Payrolls figures (Friday).Key Quotes“The US nonfarm payrolls (NFP) increased for the 7 th month in a row but the pace of adding jobs has been slowing quite markedly in November.”“US November job gains clocked in at 245,000 (nonfarm payrolls) from a downwardly revised 610,000 in October and well below the Bloomberg median estimate for 460,000.”“While the unemployment rate continued to fall to 6.7% (from 6.9% in Oct), but long-term unemployment worsened as those who were out of work for 27 weeks or more, increased by 385,000 to 3.9 million in November, the most since 2013. The long-term unemployed now makes up nearly 37% of the total unemployed in November. Labor force participation rate e...