Details from the February 2017 US non-farm payrolls and labour market report 10 March 2017
Prior 227k. Revised to 238k
- Unemployment rate 4.7% vs 4.7% exp. Prior 4.8%
- Average hourly earnings 0.2% vs 0.3% exp m/m. Prior 0.1%. Revised to 0.2%
- 2.8% vs 2.8% exp y/y. Prior 2.5%. Revised to 2.8%
- Average weekly hours 34.4 vs 34.4 exp. Prior 34.4
- Participation rate 63.0% vs 62.9% prior
- U6 underemployment 9.2% vs 9.4% prior
- Private payrolls 227k vs 193k ecp. Prior 237k. Revised to 221k
- Manufacturing 28k vs 10k exp. Prior 5k. Revised to 11k
- Government 8k vs -10k prior. Revised to 17k
No disaster then. If this was a report coming among Fed hike scrutiny, the buck would rock higher. Wages are better and unemployment is lower, though note the participation rate.
There's nothing here to change the current Fed view.
What we have to look for now is how the dollar reacts. So far it's selling off.
US NFP
