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The number of non-farm workers in the United States for August was slightly higher than expected by 1.371 million.
Sep 4,2020 21:22CST
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Source:SMM
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On Friday, Sept. 4, data from the U.S. Department of Labor showed that non-farm payrolls increased by 1.371 million in August, slightly better than expected by 1.35 million, but significantly lower than the previous revised figure of 1.734 million.

The unemployment rate in the United States fell back below 10% after a four-month interval in August, actually recording 8.4%, also lower than the expected 9.80%. The annual rate of hourly wage in August was 4.70%, 0.2 percentage points higher than expected, but lower than the previous value of 4.80%.

Breakdown of industry details:

Government employment increased by 344000, accounting for 1/4 of the total non-farm payrolls increase over the previous month.

The retail sector added 249000 jobs, almost half of which was in general merchandise stores.

Employment in education and health services increased by 147,000, but 1.5 million lower than in February.

Employment in transport and warehousing increased by 78,000; employment in manufacturing increased by 29,000.

The average hourly wage for all employees rose 11 cents to $29.47, according to the U.S. Department of Labor. The average hourly wage for production and non-managers in the private sector increased by 18 cents to $24.81. The Labor Department says the sharp fluctuations in employment over the past few months, especially in low-wage industries, have complicated the analysis of recent trends in average hourly wages.

In terms of working hours, the average weekly working hours of all private non-farm payrolls increased by 0.1 hours to 34.6 hours in August. Manufacturing working hours increased by 0.3 hours per week to 40.0 hours, and overtime increased by 0.1 hours to 3.0 hours. Among the non-farm payrolls, the average working hours per week for production and non-management workers remained unchanged at 34.0 hours.

The labour force participation rate rose moderately, from 61.4 to 61.7, as the private labour force increased by 1 million to 160.8 million in August.

Spot gold fell nearly $10 after the better-than-expected non-farm data, falling below $1930 an ounce at one point. U. S. stock futures rose in the short term, with the Dow up nearly 200 points before trading.

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