Key Points From The U.S. NFP Jobs Report (09 August 2021)

TVC:DXY   U.S. Dollar Currency Index

  • 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