Close Menu
SimpleFX BlogSimpleFX Blog
    Facebook X (Twitter) Instagram
    Tuesday, July 15
    Facebook X (Twitter) LinkedIn Telegram YouTube
    SimpleFX BlogSimpleFX Blog
    Banner
    • Home
    • News
    • Tutorials
    • Updates
    • Trading Academy
    • Trading Schedule
    SimpleFX BlogSimpleFX Blog
    Home » October nonfarm payrolls lower than expected
    News

    October nonfarm payrolls lower than expected

    SimpleFX Economic TeamBy SimpleFX Economic TeamNovember 3, 2023No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email Telegram Copy Link

    The change in the number of people employed during the previous month, excluding the farming industry, rose by 150k vs. 188k expected. The reading is less than a half of the previous one (336k).

    Average hourly earnings MoM rose 0.2% vs. expected 0.3%. 

    Unemployment rose to 3.9% vs. forecasted 3.8%. 

    What is a nonfarm payrolls report?

    Job creation is the foremost indicator of consumer spending, accounting for most economic activity. The NFP report covers the total number of jobs added or lost in the economy, the current unemployment rate, and the average hourly wage of employees. Because all of this data might tell us about future consumer spending, the report is an excellent marker of the overall health of the US economy. 

    If you would like to expand your knowledge about nonfarm payrolls, please visit the link where we explain the essence of these data in detail. 

    What is the current report’s meaning?

    The first signs of a weakening labor market may give the Fed the green light to lower interest rates faster than expected. According to the American Central Bank representatives, a weaker labor market is crucial for lowering inflation to the target of 2%. Currency pairs, precious metals, and the broad stock market remain instruments sensitive to changes in the labor market.

    A clear breakout on the SP500 index.

    In the very first reaction, the market drew attention to the lower-than-expected number of jobs added and the higher unemployment rate, which may prevent the Fed from further hikes. EURUSD, SP500, and precious metals are rising.

    Trade SP500

    The information provided on this website does not, and is not intended to, constitute investment advice; instead, all information, content, and materials available on this site are for general informational purposes only.

    featured
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email Telegram Copy Link
    Previous ArticleDividend Calendar for November 6 – 12, 2023
    Next Article Inflation And Its Measurement
    SimpleFX Economic Team

    Related Posts

    The decade of Ethereum – trade with cashback on SimpleFX!

    July 15, 2025

    Ethereum gas cap incoming?

    July 7, 2025

    The Merge and its impact: Is Ethereum now more eco-friendly?

    July 7, 2025
    Leave Us a Review
    Review us on
    App Store
    Google Play
    Copyright © 2014 - 2025. 8Tech SVG Ltd (formerly SimpleFX Ltd) with registration number 22361 BC 2014 with registered address at Beachmont Business Centre, Suite 404, Kingstown VC0100, Saint Vincent and the Grenadines
    • SimpleFX WebTrader
    • Unilink Affiliate Tracker

    Type above and press Enter to search. Press Esc to cancel.