ADS Securities, the Abu Dhabi-based provider of forex, bullion and commodities trading solutions to institutional and private investors, said the latest jobs data out of the United States showed that employment in the world’s largest economy is on a healthy footing.
Figures released by the US government on Friday showed employers added 156,000 jobs in December and ADS Securities said the US non-farm payroll report “reflects strong employment as job seeker numbers are not enough to fill the increasing number of job vacancies”.
The latest US figures bring the year’s gains to more than 2 million for a sixth straight year.
Average hourly earnings rose 2.9 per cent from a year earlier, the biggest jump since 2009.
US central bankers are weighing how quickly to raise interest rates this year amid investor optimism that the president-elect Donald Trump can shake the economy out of its low-growth rut by delivering tax cuts, investment and regulatory reforms that also lift price pressures.
ADS Securities is the largest brokerage by volume in the Middle East, it says on its website.
business@thenational.ae
Follow The National's Business section on Twitter