Unemployment statistics did not raise US indices

Despite the positive report on the recovery of the US labor market, the US market did not open higher on Friday. The internal positive could not overcome the growth of tension in relations with China.

According to the US Department of Labor, in July the country added 1.8 million jobs (forecast - 1.5 million), and the unemployment rate fell to 10.2%. Almost half of the jobs lost due to the pandemic have been restored, writes WSJ.

At the same time, the American unemployment rate remains at historical highs: the number of jobs is about 13 million less than in February, a month before the pandemic and lockdown in the United States. Until 2020, the unemployment rate hovered around a 50-year low of 3.5%, now it is above 10%.

Analysts expected the market to react to the new unemployment figures, as a new package of measures to stimulate the national economy depends on them. But in the end, the Dow Jones index (minus 150 points to close during the session) was more influenced by political news: the US imposed sanctions against 11 Chinese citizens, including Hong Kong's chief of staff Carrie Lam.

[data-stk-css="stk2Nikj"]:not(#stk):not(#stk):not(style){https: //home.treasury.gov/news/press-releases/sm1088}