US Nonfarm Payrolls increase by 119,000 in September vs. 50,000 expected
Nonfarm Payrolls (NFP) in the United States (US) rose by 119,000 in September, the US Bureau of Labor Statistics (BLS) reported on Thursday. This reading followed the 4,000 decrease (revised from +22,000) recorded in August and surpassed the market expectation of 50,000.
Other details of the report showed that the Unemployment Rate rose to 4.4% from 4.3% in this period, while the Labor Force Participation Rate edged higher to 62.4% from 62.3%. Finally, annual wage inflation, as measured by the change in the Average Hourly Earnings, held steady at 3.8%, compared to the market expectation of 3.7%.
“The change in total nonfarm payroll employment for July was revised down by 7,000, from +79,000 to +72,000, and the change for August was revised down by 26,000, from +22,000 to -4,000. With these revisions, employment in July and August combined is 33,000 lower than previously reported,” the BLS noted in its press release.
Market reaction to September Nonfarm Payrolls data
This report doesn't seem to be having a significant impact on the US Dollar's performance against its major rivals. At the time of press, the USD Index was up 0.1% on the day at 100.20.
Source: Fxtsreet
