Job creation slows down but wages accelerate in the US
- Macro-economy
- September 6, 2021
The August US employment report sent two contradictory signals: a sharp slowdown in job creation (+235k) reflecting the impact of the variant delta, but an acceleration in wages (+0.6% m/m and +4.3% yoy) highlighting the labour shortage. See our Friday’s news on this subject.
Equity markets were hesitant in the US but declined in Europe due to the weakening of the dollar (EUR/USD exchange rate crossing 1.19) and long term bond yields were slightly on the rise.
The USD is recovering a little this morning (1.1870), which could support European markets, especially as US markets are closed.
German industrial orders rebounded strongly for the second month in a row in July, confirming the reduction of bottlenecks in the automotive sector.
Share this news :
You might also read :
Yesterday, we estimated that the negative impact of inflation on the purchasing power of US households could weigh on their confidence and reinforce the decline…
April 29, 2021
Stronger growth and accommodative economic policy in the US
Optimism should prevail on financial markets: the Fed was more confident about activity recovery but committed to let its policy unchanged, as the inflation spike…
May 9, 2022
Prices torn between comfortable spot fundamentals and concerns on Russian supply
European spot gas prices dropped strongly on Friday, pressured by weak demand and ongoing strong LNG supply while pipeline flows remained stable (Norwegian flows at 320…
Subscribe to our newsletter