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1:31 PM · 6 September 2024

BREAKING: 🗽US NFP report slightly lower than expected; unemployment rate drops to 4.2%. US100 gains 📈

US Non-Farm Payrolls for August: 142k vs expected 165k vs. 114k previously

  • Private change: 118k vs 140k exp. vs. 97k previously
  • Manufacturing change: -24k vs. -2k exp. vs. 1k previously
  • Wage growth monthly: 0.7% vs. 0.3% exp. vs. 0.2% previously
  • Unemployment rate: 4.2% vs 4.2% exp. vs. 4.3% previously

Wage growth came in much higher on a monthly basis, and the unemployment rate dropped slightly from 4.3% in July to 4.2% in August. However, change in non-farm payrolls came in slightly lower than expected, with -24k drop in the manufacturing sector. Overall, the report is quite mixed, but 142k jobs added in August is still quite strong result; US dollar and Wall Street indices gained in the first reaction to the report. Markets still see 50% chances for 50 bps Fed rate cut in September.

Source: xStation5

Source: US BLS, XTB Research, Bloomberg Finance L.P.

Source: BLS, ADP Research, Bloomberg Finance L.P, XTB Research

Source: XTB Research, US Bureau of Labor Statistics, Bloomberg Finance L.P.

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