According to the confirmed data released by the US Department of Labor, the US economy showed an increase in the amount of new jobs in October. In particular, the figures amounted to 214 000 new jobs.
Employment changes came as a surprise to many economists and other experts. A decline in the US unemployment rate down to 5,8% is definitely a positive sign for the US economy. It should be noted that this is the lowest level of unemployment since the pre-crisis level of 5,9% seen in 2008.
Apparently, such strong employment figures came as a surprise since few experts actually anticipated them. The share of working people increase up to the highest level since July 2009 – 59.2% in October against 59% in September.
After revising the employment figures for August-September, the amount of new jobs created over the reporting period increased by 31 000 more.
At the same time, the US GDP showed some growth in Q3 2014. In particular, if to believe the figures released by the US Department of Trade, the GDP grew by 3,5% in Q3 2014 (y/y) after 4,6% in Q2 2014.
Today, on November 11th, the US Dollar is still going up against a basket of 6 other majors within the scope of a long-term rally. So far, it has hit 86,87, Masterforex-V Academy reports. The price is coming close to a major level or resistance – the all-time high of 88,90. At the same time, the closest levels of support are the top of the MF sloping channel and the MF pivot located at 85.248 (see the chart below).
