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US unemployment rate hits 4.6%

SPX News by Allie Longford on 08:35 December 02, 2016 EST

Unemployment in the US hit a low of 4.6% last month, way lower than the 4.9% expected.

However the amount of jobs created on the month was 178,000, very much inline with expectations.

Wages actually actually decreased by 0.1% on the month.

Both wages and the number of jobs created conflict with the unexpected drop in the unemployment rate which is likely due to fewer people giving up participating in the labour market.

The market shrugged off the unprecedented unemployment rate surprise and both forex and stock markets remained fairly muted both before and after the announcement.