Positive News From The USA. Unemployment In Europe Continues To Rise
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The whole world of investors is waiting for the most important data from overseas. Job creation is an important indicator of consumer spending. Moreover the unemployment rate is a useful measure of the underutilization of the labour supply. It reflects the inability of an economy to generate employment for those persons who want to work but are not doing so, even though they are available for employment and actively seeking work. Not only the indicator from the United States evokes great emotions, but also from the European environment.
A slight significant change
The proportion of the total workforce that is unemployed and actively seeking work in the US remained at 3.6% from March to June. In July, it fell to 3.5%. Analysts expect that the result for the month of August will remain at the level of the previous period. We have to wait until 14:30 CET for the official data.
Source: investing.com
The number of employees in the US has decreased significantly
U.S. Nonfarm Payrolls reached the highest level in March (750K), and then fell sharply. Forecasts for July indicated a continuation of the downward trend (to 250k), but as the data shows, the trend will reverse. US non-farm wages rose to 528,000, more than double the expected increase. The result for August is expected to be lower than a month earlier (300K). This could be negative news for the dollar as it is the most important indicator of consumer spending and accounts for most of the economic activity. The official data will be at 14:30 CET.
Source: investing.com
Switzerland Employment Level
Switzerland will also publish employment level today. For 5 years, the indicator has been gradually increasing. It reached the highest level in February '22, the number of employees was 5,239M. A decline is expected for this quarter, with the current reading showing that the number of employees has dropped to 5,227M. The drop in the number of employees by 12M although it is small, has a particular impact on the situation of the country with over 8.6 million inhabitants. Published at 8:30 CET.
Source: investing.com
Sudden Increase In The Number Of Unemployed
The information from Spaniards is also not optimistic. The number of unemployed may increase to the level of 3.2K. The last high reading of the number of unemployed was in February '22, then the level was much higher (17.2K). After this sudden increase in the number of unemployed, Spain recorded a significant decline (-11.4K). The negative level of the number of unemployed persisted, and the lowest number of unemployed was recorded in June this year (-99.5K). A sudden increase in the number of unemployed people is perceived negatively as far as the EUR is concerned.
The indicator presented in the chart below measures the change in the number of unemployed people during the previous month.
Source: investing.com
South Korea: The CPI Lower Than Expected
The price of a weighted average market basket of consumer goods and services purchased by households dropped to 5.7%. In South Korea, the CPI index has increased since January. It reached the highest level in August (6.3%). Forecasts for the current month showed a slight decline to the level of 6.1%. As the data shows, the decline was higher than it was passed through. This is negative news for the KRW. It also matters to the Korean economy because it is a key way to measure changes in purchasing trends and inflation. Published at 1:00 CET.
Source: investing.com
Canada's Labor Productivity Is Getting Better
Canada's labor productivity has increased since the previous quarter. This quarte, labor productivity can reach its projected level of -0.5%.
Labor Productivity measures the change in labor efficiency of Canadian workers when producing goods and services. Productivity and labor-related inflation are directly linked, a drop in a worker's productivity is equivalent to a rise in their wage. When businesses pay more for labor the higher costs are usually passed on to the consumer. Will be published at 14:30 CET.
Source: investing.com
Source: https://www.investing.com/economic-calendar/
