U.S. stocks reacted to the latest information connected with the U.S. jobs market. Based on this report U.S. economy added 130,000 jobs in August.
Another important news was that unemployment remained at the same level as in July. The unemployment rate is 3.7%. However, there is another source which also tracks the number of people who are no longer looking for a job. According to this rate the number of unemployed citizens is 7.2%. Another segment which is not part of the nonfarm payrolls report is underemployed workers. This is why there is a difference between the data released by the government and alternative jobs data.
Continued wage growth was another positive news for the U.S. economy. In August, salaries increased by 0.4%. Since the beginning of the year, wages rose by 3.2%. The wage growth rate surpassed expectations.
According to the latest report, labor force participation reached the highest point since August 2013.
Global stock markets on September 6
The nonfarm payrolls report influence on the U.S. stock market was quite limited on Friday. For instance, U.S. index the Dow Jones Industrial Average retained its level. It was 11 points or 0.1% higher. Another America index, the S&P 500 index fell by less than 0.1%. As a result, S&P index lost its previous gain.
The NASDAQ composite decreased by 0.2%.
Other stock markets also reacted to the news. However, the major news for Stock markets in Asia was that U.S. and Chinese representatives agreed to meet in October. Japan’s index Nikkei 225 rose by 0.5%. Another Asian index which gained from this situation was the South Korean Kospi as its index rose by 0.2%.
China’s Shanghai Composite Index remained at the same level. Nevertheless, it still was positive news for the index.
The U.S. jobs data and trade war affected the stock markets across the world.
COMMENTS