Published economic indicators relevant to the U.S. economy, specifically related to the labor market.

Published economic indicators relevant to the U.S. economy, specifically related to the labor market. Let's break down each of these indicators:

1. Average Hourly Earnings m/m

• Actual: 0.2%
• Forecast: 0.3%
• Previous: 0.3%

Average Hourly Earnings m/m measures the change in the price businesses pay for labor, excluding the farming industry, on a month-to-month basis. The actual figure of 0.2% is lower than the forecast of 0.3% and the previous month's 0.3%. This suggests that wage growth has slowed down compared to expectations and the prior month.

2. Non-Farm Employment Change

• Actual: 114K
• Forecast: 176K
• Previous: 179K

Non-Farm Employment Change measures the change in the number of employed people during the previous month, excluding the farming industry. The actual figure of 114K is significantly lower than the forecast of 176K and the previous month's 179K. This indicates a slowdown in job creation, which could be a sign of weakening economic conditions or a temporary setback in the labor market.

3. Unemployment Rate

• Actual: 4.3%
• Forecast: 4.1%
• Previous: 4.1%

Unemployment Rate measures the percentage of the total workforce that is unemployed and actively seeking employment during the previous month. The actual rate of 4.3% is higher than the forecast and the previous month's 4.1%. This increase suggests that more people are unemployed than expected, indicating potential issues in the labor market.

Summary

The economic data indicates that the labor market might be facing some challenges:

• Wage growth is slower than expected.
• Job creation is significantly lower than forecasted.
• The unemployment rate has increased.

These factors combined could suggest a weakening labor market, which might influence monetary policy decisions and investor sentiment.

Summary of economic data releases of today 08/02/2024 until 11:45am UTC+2

 Here is a summary of the economic data releases for various countries on Friday, August 2nd:

Japan (JPY)

Monetary Base y/y

• Actual: 1.0%
• Forecast: 0.9%
• Previous: 0.6%

The monetary base increased by 1.0% year-over-year, which was higher than the forecast of 0.9% and the previous month's growth of 0.6%. This measure reflects the total amount of currency in circulation and held by the central bank in reserves, indicating a moderate expansion in the money supply.

Australia (AUD)

Producer Price Index (PPI) q/q

• Actual: 1.0%
• Forecast: 1.0%
• Previous: 0.9%

The PPI, which measures the average change over time in the selling prices received by domestic producers for their output, increased by 1.0% quarter-over-quarter, matching the forecast and up from the previous quarter's 0.9%.

Switzerland (CHF)

Consumer Price Index (CPI) m/m

• Actual: -0.2%
• Forecast: -0.2%
• Previous: 0.0%

The CPI decreased by 0.2% month-over-month, which was in line with the forecast and down from the previous month's no change (0.0%).

Manufacturing PMI

• Actual: 43.5
• Forecast: 44.4
• Previous: 43.9

The Swiss Manufacturing Purchasing Managers' Index (PMI) fell to 43.5, below the forecast of 44.4 and down from the previous month's 43.9. A PMI below 50 indicates contraction in the manufacturing sector.

Eurozone (EUR)

French Gov Budget Balance

• Actual: -103.5B
• Previous: -113.5B

The French government budget balance showed a deficit of -103.5 billion euros, an improvement from the previous month's deficit of -113.5 billion euros.

French Industrial Production m/m

• Actual: 0.8%
• Forecast: 1.0%
• Previous: -2.2%

French industrial production increased by 0.8% month-over-month, which was below the forecast of 1.0% but a recovery from the previous month's significant decline of -2.2%.

Spanish Unemployment Change

• Actual: -10.8K
• Forecast: -17.4K
• Previous: -46.8K

The number of unemployed people in Spain decreased by 10.8K, which was less than the forecasted decrease of 17.4K and significantly less than the previous month's decrease of 46.8K.

Italian Industrial Production m/m

• Actual: 0.5%
• Forecast: 0.0%
• Previous: 0.5%

Italian industrial production increased by 0.5% month-over-month, exceeding the forecast of no change (0.0%) and matching the previous month's growth.

Italian Retail Sales m/m

• Actual: -0.2%
• Forecast: 0.2%
• Previous: 0.4%

Italian retail sales decreased by 0.2% month-over-month, which was below the forecasted increase of 0.2% and a decline from the previous month's increase of 0.4%.

This collection of economic data reflects various aspects of the economies involved, such as inflation, industrial production, employment, and retail sales, providing insights into their current economic conditions.