When we look at the last day of the week, we can see the non farm payrolls data announced in the USA. The Non-Farm Payrolls remained well below market expectation with 98 thousand people in March. While the participation rate in the said period did not change with 63.0 %, the unemployment rate decreased to 4.5 % from 4.7 %. When we look at the details of the report, we see the acceleration in employment of all sectors except public employment. Especially in the manufacturing sector, the weak performance of employment compared to the previous month may indicate a slowdown in the sector.
However, there were some negative developments in the English side. The data released yesterday in the UK showed that the country's economy lost momentum in the last month. In the mentioned period, industrial production decreased by 0.7 %, while annual growth rate was limited to 2.8 %. Mark Carney, President of the Bank of England spoke today about the possible effects of the Brexit process on the financial sector. According to Carney, depending on the terms of the agreement, the financial sector in the UK may contract and this may be reflected in the labor market in a negative way.
- Date: 08 April 2017 Sat 10:24
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