US Unemployment Figures Scheduled to Disclose Tomorrow’s market position

Yesterday was the day for US November Unemployment Rate and Nonfarm Payroll figure disclosure. October unemployment rate increased to 10.2% from the last month figure of 9.8% and the nonfarm payroll turned down by 190k.

After the beginning of the recession in 2007, the unemployment rate increased to 7.3 million unemployed persons. It is the record high in the unemployment rate since April 1983.

The workers who are facing long-term unemployment reached around 5.6 million in October. If we see the figures of part-time workers, the unemployment percent touch a record of 17.5%. The part-time workers data remained on the same point in October without any significant change and is around 9.3 million in October.

As per the survey reports of US Bureau of Labor Statistics unemployment sufferers have middle around 188k in the last three-months as matched up to to 357k through the previous three-months, the standard working week was unmoved at 33 hours, the industrialized working week increased through 0.1 hour to 40 hours and industrial unit overtime rose by 0.2 hour.

Even though the US labor market remained weak yet the job losses claims are dropping and had declined to its year lowest figure with the jobless claims at the end of the November dropped by 35k to 466k.

The stimulus plans issued by Obama helped to bank 600 to 1.6 million jobs and lowered the unemployment rate to around 0.3% to 0.9%. The ADP report says that the US November Nonfarm Payroll decline will be around 125k. The sign of recovery in the labor market is due to the 44k temporary job addition in October improved the employment rate.

It is expected to remain unchanged with 10.2% in November and the Nonfarm Payroll figure at -130k. The Forex trade market is observing for any improvement in the average hourly earnings or further working weeks are required to find further improvement in the US labor market.

Moreover, Government is trying to open up vacancies either for part-time and temporary basis so that the employment condition may improve further but this will take time to accomplish in the coming days. Because the improvement in the employment means better and long-term employment opportunities in the nation that depends on the response of citizens towards market on seeing the report tomorrow that may help to boost the risk appetite and hike in demand of equity purchase.

USD position at the Forex trading platform manages to trade closely with the equities considering the risk appetite condition as the currency pair trading changes in a moment. Right now, the equity is breaking its record and trading with new high for 2009 while, the USD is trading low that is why the main concern is to bring the USD in a stabilized position.

US Unemployment claims and Nonfarm Payrolls report will disclose the output of the November growth or reduction report and that release will enforce the Forex market trend lines to make some stable direction of the market.