Local time on February 21, 2019, New York, USA, an electronic billboard in Times Square reads: "Don't bother, AOC!". AOC is the abbreviation of the name of Rep. Alexander Delhi Ya Ocasio-Cortez. According to foreign media reports, Amazon has suddenly withdrawn its plan to establish a second headquarters in New York City, citing increasing opposition from local officials. Rep. Alexandria Ocasio-Cortez is skeptical about Amazon's settlement, questioning whether local residents will benefit from new jobs. Visual China Picture
On March 7, local time, data released by the U.S. Department of Labor showed that the number of non-farm employment changes in the U.S. in February hit a new low in 17 months.
The United States' non-farm employment population increased by only 20,000 in February, compared with the expected 181,000, the previous value was 304,000. Previously, Wall Street predicted the growth rate of non-farm employment in the United States after the seasonal adjustment in February to be between 141,000 and 215,000. However, the unemployment rate fell from 4% to 3.9% in February, which is close to the lowest level since 1969.
The number of new non-agricultural new users in the United States in February was shocking, mainly due to the sluggish employment data in the construction industry and other sectors. Employment in professional and commercial services, healthcare and wholesale trade continues to be on the rise, but employment in the construction industry has declined, the report said. Although this figure hit a new low since September 2017, most other data reported were strong, especially the unemployment rate returned to the "3" in 2019.
In terms of salary data, the average hourly wage in the United States rose 3.4% year-on-year in February, exceeding expectations of 3.3% and the previous value of 3.2%, setting the largest growth rate since April 2009.
Non-agricultural data is an important data indicator that reflects the employment status of the non-agricultural population in the United States, referring to the three values of the number of non-agricultural employment, employment rate and unemployment rate. It is divided into previous value, expected value and published value. Non-farm data reflect the rise and fall of the US economy and greatly affect the trend of the US dollar. Does the non-farm data in February fall sharply below expectations mean that the US economy has entered a recession?
The "number 3" of the Federal Reserve and the chairman of the New York Fed Williams in a speech at New York Economic Club on March 6 local time, saying that due to the slow growth of workers' productivity and the decrease in labor force, the potential growth rate of the United States is lower than in previous years, and a slowdown in economic growth is imperative.
Williams believes that the global economic situation poses a major risk to the US economy. Since the Fed meeting in September last year, the situation has changed significantly to a certain extent, and signs of slowing global economic growth have become significant, and it is of great significance for the Federal Reserve to be prepared for response. Once the economy goes down, the Fed has policy tools to deal with it, which may restart quantitative easing (QE) and may also consider negative interest rates.
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