Highlights

Bimb Research Highlights

Author: kltrader   |   Latest post: Fri, 19 Feb 2021, 5:16 PM

 

Economics - US job creation came to a halt in December

Author:   |    Publish date:


  • US loses 140,000 jobs in December
  • Unemployment rate unchanged at 6.7%
  • Wage growth increased 0.8% mom and 5.1% yoy
  • Labor force participation rate unchanged at 61.5%
  • COVID is still holding sway over the job growth

The US lost jobs in December for the first time in eight months as the coronavirus bore down on the economy again and forced businesses to resort to more layoffs. US nonfarm payrolls (NFP) fell by 140k in December. The decline in employment was the first since last April, when the US lost a gargantuan 20.8 million jobs in that one month alone. The unemployment rate remained unchanged from November at 6.7%.

The decline in payroll employment reflects the recent increase in COVID-19 cases and efforts to contain the pandemic. In December, job losses in leisure and hospitality and in private education were partially offset by gains in professional and business services, retail trade, and construction. The biggest losses were in the leisure and hospitality (-498k), concentrated in bars and restaurants (-372k). Employment in the sector remains 23% lower than February levels. Jobs were also shed within private education (-63k), government (-45k) and other services (-22k), which includes businesses like hair salons. Many sectors continued to add jobs. Professional and business services increased by 161k, retail trade by 121k, construction by 51k, transportation and warehousing by 47k, and manufacturing by 38k.

The change in total nonfarm payroll employment for October was revised up by 44k from +610k to +654k and the change for November was revised up by 91k, from +245k to +336k. With these revisions, employment in October and November combined was 135k more than previously reported.

In December, both the unemployment rate, at 6.7%, and the number of unemployed persons, at 10.7m, were unchanged. The labor force participation rate also unchanged at 61.5%. The average hourly earnings ticked up 0.8% mom and 5.1% yoy in December.

Source: BIMB Securities Research - 11 Jan 2021

Share this

  Be the first to like this.
 


APPS
I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
View Trading Signals and run Live Backtest
MQ Affiliate
Earn rewards with MQ Affiliate Program
 
 

442  660  559  944 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 DNEX-WD 0.375+0.025 
 DNEX 0.72+0.005 
 XOX 0.090.00 
 GFM-WC 0.075+0.035 
 SIGN-WA 0.10+0.03 
 MPAY 0.23-0.035 
 PUNCAK 0.475+0.09 
 MSM 0.98+0.125 
 MTRONIC 0.08-0.005 
 ITRONIC 0.48+0.095 

FEATURED POSTS

1. MQ Trader - Introduction to MQ Trader Affiliate Program MQ Trader Announcement!

TOP ARTICLES

1. Monday Limit Up Lah! RM3.8B Project Win!!! VIVOCOM RETAIL POWER RALLY GO GO GO!!!!
2. Stock Pick Year 2021 - 26 Feb Result Stock Pick Contest Year 2021
3. Vivocom March Super Bull Run !!! Covid Trader
4. TOPGLOV applies for dual primary listing on Hong Kong bourse gloveharicut
5. Purchased Top Glove - felicity Good Articles to Share
6. Vivocom 3月超强牛市!!! VIVOCOM RETAIL POWER RALLY GO GO GO!!!!
7. [转贴] [Video:浅谈DAGANG NEXCHANGE BHD, DNEX, 4456] - James的股票投资James Share Investing James的股票投资James Share Investing
8. Vivocom March SuperBull Run !!! Covid Trader
PARTNERS & BROKERS