Disappointing NFP figures

May 07, 2021

The US economy created significantly fewer jobs than what the market expected, according to the latest report released by the Department of Labor Statistics

In the past month, 266,000 non-farm payrolls were added, compared to 990K expected.

Along with the payrolls came the unemployment rate, that also underperformed, as it rose to 6.1% last month, higher than the 5.8% expected.

The reports came after the Fed announced it will keep the interest rates unchanged and multiple restrictions have been eased. Analysts were looking for a strong job market report that could prove that the market is going back to pre-pandemic levels.

Markets reacted in a mixed fashion to the news, with USA30 losing 0.03% and USA500 adding 0.37%.

Sources: forexfactory.com, investing.com

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