Pets suffer nosebleeds, severe skin rashes and lapses into unconsciousness in a relentless hot weather over the past week
Nonfarm payrolls rose 163,000 last month, the Labour Department said on Friday, beating economists expectations in a Reuters poll for a 100,000 gain. That snapped three straight months of job gains below 100,000 and offered hope for the struggling economy.
However, the unemployment rate rose from 8.2 per cent in June, even as more people gave up the search for work and a survey of households showed a drop in employment.
The closely watched employment report comes two days after the Federal Reserve sent a stronger signal that a new round of major support could be on the way if the faltering recovery does not pick up.
Most economists had expected the Fed would launch a third round of bond purchases, possibly at its next policy meeting on September 12-13. But the mixed employment report has muddied the picture a bit. “This is a report that doesn’t give a clear read on what the Fed will do. We need to see another jobs report,” said Robert Dye, chief economist at Comerica in Dallas.
The Fed has held interest rates close to zero for nearly four years and pumped about $2.3 trillion into the economy.
The labour market slowed sharply after strong gains in the winter, spelling trouble for President Barack Obama.
A recent Ipsos/Thomson Reuters poll showed 36 per cent of registered voters believe Republican presidential candidate Mitt Romney has a better plan for the economy, compared to 31 per cent who had faith in Obama’s policies.
The unemployment rate has been stuck above eight per cent for more than three years, the longest run since the Great Depression.
“The key question is now is will it be sustained? The backdrop remains challenged, seeing anything meaningfully better than this will in itself be a challenge,” said Tom Porcelli, chief US economist at RBC Capital Markets in New York.
“We’re still in an environment where productivity is slowing, where profit growth is slowing, and we don’t think that is a robust environment to see meaningful job gains.”
US stock index futures added to gains after the payrolls report while Treasury debt prices extended losses. The dollar gained versus the yen and pared its losses versus the euro.
Pets suffer nosebleeds, severe skin rashes and lapses into unconsciousness in a relentless hot weather over the past week
The airline warned there could be delays due to rain and heavy traffic
As the climate warms due to the burning of fossil fuels, heatwaves are lasting longer and reaching greater peaks as average temperatures rise
This distinguished event serves as a platform to acknowledge remarkable contributions and innovative brilliance within the healthcare sector
The tennis tournament in Paris Olympics takes place at Roland Garros where Nadal has won a record 14 French Open singles titles
The National Emergency Crisis and Disaster Management Authority on Monday announced its preparedness for the unstable weather conditions
Al Ain, which beat Saudi giants Al Hilal and Al Nassr, will will face Yokohama F Marinos in the final
DIFC has helped position Dubai as the top city in the Middle East, Africa and South Asia region