Nonfarm Payroll Report: American Wage Growth Of Most Interest

The chief economist at Moody’s Analytics Mark Zandi said that ‘it is a good time to be an American worker’ given that the economy has been creating two million jobs each year for the last six years. The US labor market remained resilient, with the unemployment rate falling to multi-year lows in 2017, even after devastating hurricanes slammed Texas and Florida, leading to a period of weaker hiring. However, employment numbers are not what analysts are paying most attention to but instead wage inflation is of greater concern as growth in average earnings remains subdued in an already tight labor environment. Hence, wage growth figures on Friday’s nonfarm payrolls report would be of greater importance to the markets and may prove to be a source of volatility for the dollar.

Source:: Nonfarm Payroll Report: American Wage Growth Of Most Interest

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