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United States Nonfarm Payrolls of February was published

United States Nonfarm Payrolls of February was published

Today the U.S. Bureau of Labor statistics published a NFP report, reflecting the main employment indicators in the country. The report has been stronger than experts had predicted. It has reinforced expectations of monetary policy tightening and interest rate hiking by the Federal Reserve.

According to the report, the number of employed in non-agricultural sector increased by 235 thousand in February, which is by 35 thousand more than experts forecasted. Comparing with January, this indicator amounted 238 thousand.

The unemployment rate in the USA in February decreased by 0.1 percent from the previous month and amounted 4.7%, which fully corresponds to the forecasts.

The percentage of the economically active population in the United States increased to 63% from 62.9% in this month.

The average hourly salary is the only indicator that has been slightly below the projections. Experts assumed that this rate will increase by 0.1% to 0.3% as it was in January. But in February, it didn’t change and remained at 0.2%. Meanwhile, the dynamics of growth in average hourly wages is exactly an indicator that best reflects the inflation level in the country and carefully tracked by the Federal Reserve. Thus, the question of the raising of US interest rate remains open.