US economic data breakdown in respect of a hike – BNP

By FXStreet FXStreet (Guatemala) – Analysts at BNP Paribas noted the key sectors of the US economy in respect to timings of a rate hike from the FED and performances.

Key Quotes:

“Job creations slowed sharply in late summer. The public sector has begun hiring again, notably at the State and local levels, but the private sector has put on the brakes.”

“Economic growth has taken a breather, which naturally results in less hiring. Even so, survey data are still encouraging, notably in the non-manufacturing sector, and employment could rebound towards the end of the year.”

“Underemployment is still high and continues to strain wage formation. Yet it continues to be absorbed at the same pace, despite the slowdown in job creations, thanks notably to the decline in long-term unemployment and involuntary part-time work.”
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Source:: FX Street