Economy

Dollar advances after strong U.S. jobs report, backs Fed hike view

Dollar advances after strong U.S. jobs report, backs Fed hike view”

With a lack of wage increase fueling concerns that this period of low inflation in the U.S. is more than "transitory", we might see the financial markets continue to debate over how often the Federal Reserve can continue to raise United States interest rates.

The total nonfarm payroll employment increased by 222,000 in June, beating market expectation of 170,000, according to data released by the Labor Department on Friday.

Following the jobs report, the dollar rose to two-month highs against the yen, on pace to post its largest weekly percentage gain since late April.

"This is another illustration that the real economy is in good health", Paul Ashworth, chief USA economist at Capital Economics, said after big monthly gains were...

"Once again, the buzz kill on the jobs report is the lack of more substantial wage growth".

Loh said hourly earnings' 2.5 percent gain from a year earlier were disappointing, with growth slower than at the start of the year and mostly stagnant over the past several months. "More than five million Americans still work part-time who'd like to have full-time work".

In the month of May, the average work per week was increased from 34.4 hours to 34.5 hours.

"Inflation has been very, very low and, usually, businesses raise their workers' pay by at least the rate of inflation", said Mr Ryan Sweet, an economist at Moody's Analytics. As more people look for jobs, the unemployment rate may rise. From April to June, monthly job gains have averaged 194,000 positions.



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