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US dollar tumbles after US jobs report shows growth, but service sector shrank

Mount Equity Group Tokyo Japan > News > Markets > US dollar tumbles after US jobs report shows growth, but service sector shrank

The US dollar on Friday fell after US jobs data showed a strong, but not blockbuster employment picture for last month, while a separate report showed that US services industry activity contracted for the first time in more than two-and-a-half years in that month.

Employers added 223,000 jobs last month, more than economists’ forecasts of 200,000. Wages also grew 0.3 percent last month, less than the 0.4 percent in November and below forecasts of 0.4 percent.

That lowered the year-on-year increase in wages to 4.6 percent from 4.8 percent in November.

Photo: AP

“There was a bit of a fear that this could be quite a blockbuster print in terms of job growth,” which was a risk due to seasonal adjustments that are common in…

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