News

US October non-farm payrolls +128K vs +85K expected

Highlights of the October US employment report:

  • Prior was +136K (revised to +180K)
  • Estimates ranged from +25K to +140K
  • Two month net revision +95K
  • Unemployment rate 3.6% vs 3.6% expected (prior 3.5%)
  • Participation rate 63.3% vs 63.1% exp (63.2% prior)
  • Avg hourly earnings +0.3% m/m vs +0.2% exp
  • Avg hourly earnings 3.0% y/y vs +3.0% exp
  • Prior avg hourly earnings 2.9% (revised to 3.0%)
  • Avg weekly hours 34.4 vs 34.4 exp
  • Private payrolls +131K vs +80K exp
  • Manufacturing -36K vs -55K expected
  • U6 underemployment 7.0% vs 6.9% prior
  • Temporary census hiring were reduced by 17K

This is a very strong report. The GM strike wasn’t as large of a drag and those revisions are great. If you look at that chart, there’s no real sign of slowing in the US economy.
ForexLive

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