- Prior 214k. Revised to 243k
- Unemployment rate 5.8% vs 5.8% exp. Prior 5.8%
- Average hourly earnings 0.4% vs 0.2% exp m/m. Prior 0.1%
- 2.1% vs 2.1% exp y/y. Prior 2.0%
- Average weekly hours 34.6 vs 34.6 exp. Prior 34.6. Revised to 34.5
- Participation rate 62.8% vs 62.8% prior
- Private payrolls 314k vs 225k exp. Prior 209k revised to 236k
- Government payrolls 7k vs 5k prior. Revised to 7k
- Manufacturing payrolls 28k vs 14k exp. Prior 15k revised to 20k
HOLY MOLY that’s a biggie
USD/JPY up through 121 in a flash to 121.13. Keep an eye on US Treasury yields too.
From the first look the headline is obviously great but there’s not much change underneath. Wages are up but not rocketing and the work week is unchanged, as is the participation rate. It smells of seasonal hiring to me.
US nonfarm payrolls details 05 12 2014
US non farm payrolls 05 12 2014
