Wall street a perfect election week closed this Friday, marked by strong increases. This Friday has encouraged the markets with a good data of job creation in the US. The largest economy in the world has recovered more work than expected in October, and its unemployment rate has fallen to 6.9%, consequently raising the main stock markets of the country.
US unemployment comes from standing at 7.9% in September, and experts acknowledge that these data are positive considering the outbreaks of coronavirus that the country has been experiencing in recent weeks.
The Fed has been warning of the link that inevitably links the virus and economic growth, which is why challenging months are still waiting in the country.
The sectors that hired the most in October have been precisely the worst hit so far by the pandemic. This explains why hiring in leisure and hospitality has rebounded by 271,000 new hires, of which 192,000 correspond exclusively to bars and restaurants.
The US stock markets are thus on their way to their fifth consecutive session in the green, something especially commendable considering the volatility unleashed by the electoral chaos. On the other side of the Atlantic, the Ibex corrects but it will also end its particular week positively. Finally, in Asia the stock markets have closed with a mixed sign.