US Jobs surge boosts optimism
April 02, 2021 @ 16:31 +03:00
Employment in the USA rose by 916,000, better than the average forecast of 650,000.
![](https://fxpro.news/wp-content/uploads/2021/04/us_nfp_210402.png)
An additional positive signal from the labour market is that the average working week rose to 34.9 hours, a repeat of the highs of January and the highest values in the indicator’s history since 2006. This data reflects a high workload, suggesting a further healthy rate of employment growth.
Against the backdrop of booming employment and workload, it should not be surprising to see wages fall: employers are bringing back less qualified workers, which is pulling the averages down.
![](https://fxpro.news/wp-content/uploads/2021/04/us_awh_210402.png)
This strong macro data has pushed S&P500 futures to new all-time highs (the stock market itself is closed today). The first reaction of the dollar is mixed.
Generally speaking, strong employment growth is a positive for the US currency, as it promises higher inflation and an earlier rate hike. But that is still too far away, making the dollar attractive as a funding currency for buying stocks and commodities.
The FxPro Analyst Team