Lower-than-expected non-farm payrolls

Lower-than-expected non-farm payrolls

Mixed economic readings at the end of the week

The monthly report from the US Bureau of Labor Statistics showed that in the past month, 49,000 jobs were created.

On the other hand, the unemployment rate fell to 6.3%, lower than the market expected – to be steady at 6.7%.

Even though the employment starter slowly to kick-off, the pandemic’s effects on the labor market are still present, with more than 10 million left jobless. During the same time last year, only 4.3 million people were without a job.

The markets are still waiting for the long-touted stimulus package after it turned out President Joe Biden and Republican Senators met this week to discuss the matter.

Indices reacted positively to the news, USA30 and USA500 opening at 0.32% and 0.22% higher.

Sources: forexfactory.com, cnbc.com

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