Although the longest government shutdown in history has now come to an end, the effects of it are expected to filter through to the US economy over the next few weeks. However, figures released yesterday showed that if there are any adverse effects, they have not immediately harmed employment, as some 213,000 jobs were created by US companies in January.
While that is a significant drop from the downwardly revised 263,000 jobs created in December, it is still some way above the 178,000 expected. The fact remains that hundreds of thousands of Federal workers were unpaid for weeks, so some negative impacts are expected in the not-too-distant future.
While that is a significant drop from the downwardly revised 263,000 jobs created in December, it is still some way above the 178,000 expected. The fact remains that hundreds of thousands of Federal workers were unpaid for weeks, so some negative impacts are expected in the not-too-distant future.
The only release of note from the US today is initial jobless claims up to 26 January 2019. The readings have been extremely impressive of late, although it is possible that the recent government shutdown has skewed the readings. This time around, the figure is expected to have climbed to 215,000 from 199,000 the week before, although recent releases have been wide of the mark, so it will be interesting to see if today’s figures are.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.
