Economy. Jobs data from the US continues to surprise. But close to 300,000 new jobs in June are not expected to lead to any change of course from the Federal Reserve.
Economists around the world keep track of jobs data from the US, because the economic situation in the country has a great effect on the world economy.
Since job growth fallen far below expectations in May surpassed the figures for the June forecasts by far.
the number of employed outside the agricultural sector increased by 287 000 in June from the month before, according to the US Department of labor. Economists had on average expected an increase of 175,000 people.
The increase was the biggest since October last year. In contrast revised job growth in May from the already modest 38000-11000.
The Fed has paused
Joy figure does not affect the Fed’s view on interest rates, estimates, SEB’s Chief Economist Robert Bergqvist.
– the Fed has taken a pause in its rate hikes. They will still have to wait a few months, he said.
The weak figure for May is still a big question mark, and although the average when to merge in May and June landing at almost 150,000 new jobs per month, is enough. Robert Bergqvist also indicate that unemployment rose to 4.9 percent, compared with the expected 4.8 percent.
– My view is that the US economy will grow by 2-2.5 percent right now. It is a good growth, but not impressive.
The dollar central
The US central bank would likely wait for more data to see how the economy has been affected by the British voted for a British EU exit.
– What I think worries the central bank is that the US dollar may strengthen as an indirect effect of brexit.
the pound has collapsed. In both Japan and China would be happy to see a weak currency. In such an incipient currency war is very likely that it is the dollar that strengthens, he continues.
– It would dampen the economy, and it can get the central bank to wait.
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