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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