US Economy losses 598k jobs in January

The Labor Department published the Non Farm Payroll figures for January at 8:30am this morning. Analysts expectations were averaged around 550k. Less than that would be seen as a positive sign by the market. A figure larger than the expectations was released as the Unemployment rate now stands at 7.6% in the United States.

Massive Layoffs from Corporate America fill the headlines every week, so it was no surprise that the losses would be higher than half a million lost jobs. Since the recession startes the US has lost 3.5 Million Jobs. As current hiring freezes are in effect, the market expect more jobs to be shed in the next NFP, along with revisions to the current figure which could increase the losses reported.

For more United States employment indicators visit FXEconostats Employment Data

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza