17.3 C
New York
Wednesday, June 16, 2021

U.S. Labor Market Weakened With Rising Covid Cases, But Average Hourly Wage Rose

Therefore the coronavirus resurgence greatly delayed the labor market in November. Just 245,000 non-agricultural jobs, almost half of economists’ consensus of about 470,000, and far less than 610,000 jobs creation by the U.S. economy in October. It should be noticed that October work vacancies were also revised down from 638,000 to 610,000.

5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!


Despite this the unemployment rate dropped from 6.8 percent of market consensus to 6.7 percent and from 6.9 percent in October, a factor largely related to a fall in labor force participation, which fell to 61.5 percent, as many Americans were discouraged from looking for jobs due to the economic and health crisis. The only good news is that, compared with a consensus of 0.1 percent, the average hourly wage increased more than expected, by 0.3 percent compared to the previous month, and it is up 4.4 percent compared to November 2019.

On the other hand, industrial orders increased on a month-on-month basis more than anticipated (up 1 percent in October, against a market consensus of 0.8 percent and a 1.3 percent rise in September, indicating American entrepreneurs’ confidence in the medium-term improvement of the economy. Finally, in October, below consensus ($64.8 billion) and after $62.1 billion in September, the balance of international trade in goods and services reported a deficit of $63.1 billion.

Paradoxically, investors, hoping that they would exert pressure on the political class to rapidly implement a new stimulus plan, did not sanction the job figures. At its next meeting on December 15-16, the Fed might also be more likely to increase its funding.

Uber Technologies Inc (UBER) gained 4.46% to close the weekend session at $54.86. The ride-hailing firm asked the U.S. Centers for Disease Control and Prevention (CDC) to identify the drivers and delivery drivers of the organization as important non-health workers and thus liable for priority virus vaccination.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Related Articles


Please enter your comment!
Please enter your name here

Latest Articles

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam

Get The Best Stocks To Trade Every Day!

Join now to get the Newsheater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.