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Unemployment in the US in October fell better than forecast


November, 05 2021
watermark Economic news

According to the US Department of Labor, unemployment in the country fell to 4.6% in October (from 4.8% in September), and the number of people employed in non-agricultural sectors of the economy increased by 531 thousand. Hourly wages in October rose by 0.4 % in monthly terms and amounted to $30.96, and in annual terms – by 4.9%.


Analysts predicted a decrease in unemployment to 4.7% and an increase in the number of people employed in the non-agricultural sector by 450 thousand.


The Ministry of Labor also raised its estimate of the growth in the number of new jobs in the non-agricultural sector in September – from 194 thousand to 312 thousand.


Recall, in connection with the coronavirus pandemic, unemployment in the United States in April 2020 jumped to 14.8% from 4.4% in March and updated the maximum since 1940.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.