Summary:
- US economy adds 136k new jobs in September
- Jobless rate unexpectedly falls to 3.5% from 3.7%
- Wage growth disappoints producing a 2.9% YoY rise
The US economy added 136k new jobs in the non-farm sector in September, the number was only marginally lower than the median Bloomberg estimate at 145k. At the same time, we got a noticeable upward revision to August (to 168k from 130k), while the unemployment rate unexpectedly dropped to 3.5% from 3.7% with no change in labour participation. On the other hand, annual wage growth slowed down to 2.9% from 3.2%, bringing a wide disappointment as the consensus had pointed to no change. The initial move in the US dollar is to the upside, though US yields have barely moved. Overall, the report showed that the labour market remains still quite resilient amid a dismal performance elsewhere.
The USDJPY has jumped to some extent following the reading. Source: xStation5
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
