Non-Farm Payroll data was released on Friday afternoon, showing that the US economy added 245K jobs in November, well below expectations of 469K. It is the smallest employment gain since the job market started to recover in May from a record 20.787 million loss in April.
As coronavirus infections increase, more states are introducing restrictions to curb the spread. However, a stimulus bill to support those who are unemployed, and the economy as a whole still hasn’t been introduced.
The dollar is slightly stronger this morning, but vaccine and stimulus hopes are limiting its gains.
Inflation rate figures will be released for the US this week, which are expected to show that inflation in October dropped to 1.1% annually.
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