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US non-agricultural employment data for October continued “less bad” scenario and indicate that, that economic recovery is not expected in the near future. “Improvement” reflected less significant decline in employment -190 000 per month (worse than expectations), although the severity of this decline is offset by an upward revision for September and August as a whole by +91 000, which allowed the indicator to be less gloomy. According to the Bureau of Labor Statistics, there was no particular reason for revision, but, usually, later reviews are included in the report, and in this case they turned out to be better, than forecasts, based on the latest statistics. This could be another sign of improvement.. The Bureau of Labor Statistics also notes, that the decline in employment in October was “less significant and less extensive”, than last winter. Nevertheless, the rate of growth in the number of working hours and wages is slowing down, and the unemployment rate increased by 0.4, reaching 10.2%. In this way, the report indicates, that the weakening of the labor market continues, while incomes and production volumes remain low.

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