TSX-V back in uptick with latest U.S. jobs numbers.
The Labour market cooled significantly in August, as the economy created less than 200,000 jobs, the first time in six months, according to the latest data from the U.S. Labor Department. Friday, the department said that 142,000 jobs were created in August, down from July’s revised level of 212,,000; July’s initial data reported 209,000 jobs were created.
June's employment data was revised signficantly lower in the August report; the department said that 267,000 jobs were created in June, down from the previous revision of 298,000.
Optimism was relatively high heading in to the report as most of the recent economic data has confirmed that the U.S. economy is building momentum. According to consensus reports, economists expected between 226,000 and 238,000 jobs were created in August.
The Labor Department also said that the unemployment rate inched lower in August to 6.1%. Economists were expecting the unemployment rate to fall to 6.1%.
Thursday, payrolls processor ADP reported that 204,000 jobs were created in the private sector last month, slightly down from July’s revised data of 212,000 jobs. Another indication for a strong jobs number came from the Institute for Supply Management’s non-manufacturing purchasing managers’ index, also released Thursday. The report said that the employment component of the index rose to 57.1%, the highest level since 200 and up from July’s reading of 56%. |
