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US unemployment rate falls to 4.2%
US NFP repot slightly lower than expected; unemployment rate drops to 4.2%
US adds 142,000 jobs, falling short of forecasts
Unemployment rate edges lower; July payrolls revised down
US unemployment rate declines to 4.2%
In August 2024, the US non-farm payrolls increased by 142,000, falling short of the anticipated 163,000 and significantly below the 12-month average monthly gain of 202,000. The previous month’s payroll growth was revised downward from 114,000 to 89,000. Despite this, the unemployment rate edged down from 4.3% to 4.2%, aligning with market expectations. Additionally, average hourly earnings rose by 0.4% month-over-month, surpassing the expected 0.2% increase.
Source: Bloomberg
Canada’s unemployment rate rises to 6.6%
Canada's employment figures showed a growth of 22,100 in August, missing the forecasted 25,000 increase. The addition of 66,000 part-time positions was offset by a decline of 44,000 full-time roles. As a result, the unemployment rate increased from 6.4% to 6.6%, exceeding expectations of 6.5% and reaching the highest level since May 2017, excluding the pandemic period. The employment rate also fell by 0.1 percentage points to 60.8%. Average hourly wages increased by 5.0% year-over-year, a slight deceleration from July's 5.2% growth.
