Key Points From The U.S. NFP Jobs Report (09 August 2021)
KEY POINTS:
- In July, 943,000 jobs were created
- Highest figure since August 2020; main driver of this strong increase is the Leisure and Hospitality sector
- Number of jobs created in June was revised upwards from 850,000 to 938,000
- Number of jobs created in May was also revised upwards from 583,000 to 614,000
- Total number of jobs at the moment is still around 5.8 million below the pre-pandemic level
- Unemployment rate declined from 5.9% to 5.4%
- Average hourly earnings rose by 0.4%
- Rising demand for labour likely led to the rise in earnings
- Participation rate inched higher from 61.6 to 61.7