U.S. non-farm employment surges, unemployment rate rises slightly
The latest employment report released by the U.S. Bureau of Labor Statistics shows that most key data are better than expected. The total non-farm employment increased by 272,000 (the market expectation was an increase of 185,000), private sector employment increased by 229,000 (market expectation was an increase of 170,000), and average hourly earnings grew by 0.4% month-on-month (market expectation was a growth of 0.3%), while weekly working hours remained at 34.3 hours. However, there is noticeable weakness in the household survey as the unemployment rate rose from 3.9% to 4.0%, which can be attributed to a decrease in its employment measure indicator by about 408,000 people.
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