Power Breakfast: Strong Rebound In US Market After December Jobs Data, Wage Growth Remains Lower Than Expected
Zee Business Video Team | Updated: January 9, 2023 08:18 AM IST
US markets closed sharply higher after the December Jobs data. Dow jumped 700 points and the NASDAQ rose 2.5%. The bond yield slipped to 3.56%. In December, more than 2 lakh to 2.23 lakh jobs were added. The unemployment rate fell from 3.7% to 3.5%. Wage growth in the US was lower than expected. Average hourly earnings decreased from an estimated 5% to 4.6%. Lower than expected wage growth indicates further reduction in inflation. Apart from this, there was a rise of 1-1.5% in Europe.
