Original title: the number of new non-farm payrolls in the United States in March turned negative for the first time in a decade. U. S. stocks opened slightly lower source: Phoenix New Media Finance and Economics
Phoenix New Media Financial News, Friday, April 3, Beijing time, affected by the "negative" effect of new non-farm payrolls in March for the first time in a decade, the three major US stock indexes opened lower, with the Dow down 0.48%, the S & P 500 down 0.33% and the Nasdaq down 0.44%.
20:30 Beijing time, the Labor Department's March non-farm data plunged 701000, far exceeding expectations of-100000 and negative for the first time since September 2010. Meanwhile, the US unemployment rate rose to 4.4 per cent in March, well above expectations of 3.7 per cent.
According to survey data, 1.8 million workers were temporarily laid off during the reporting period, and the number of workers reporting unemployment for more than five weeks surged 75 to 1.5 million.
Affected by the dismal non-agricultural data, the futures of the three major US stock indexes fell nearly 1% at one time and recovered their intraday decline in Comex gold futures, returning to more than 1640 US dollars per ounce.
Paul Krugman, a columnist for the New York Times, said it is well known that there is little non-farm data tonight. It is not surprising that non-farm data fell by 10 million in April.
Investors should note that the Labor Department's March non-farm data is only in the calendar week ended March 12, so the much higher-than-expected non-farm data does not include unemployment figures for the second two weeks of March. According to the unemployment data released yesterday, the number of jobless applicants reached 10 million in late March.
Mark Zandi, chief economist at Moody's, said this week that based on available unemployment application data, when non-farm data are released next month, that figure is likely to be around 1000-15 million.
The Oxford Institute for Economic Research predicts that the United States will lose 27.9 million jobs by May and the unemployment rate will reach 16%, which means that all new jobs will be wiped out after 2010. As a reference, the economic crisis of 2007-2009 lost a total of 8.7 million jobs.
The more neutral and official Congressional Budget Office said on Thursday that the unemployment rate was expected to exceed 10% in the second quarter. It also means that there is a risk of a breakthrough in America's monthly unemployment record since 1948 (10.8% under Reagan in 1982).
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