US non-farm payrolls fell by 54,000 jobs in August while the unemployment rate remained constant at 9.6 per cent, according to The Bureau of Labor Statistics.
The decline was much less than expected by the market.
The Reuters consensus forecast was for a fall of 100,000 and an unemployment rate of 9.6 per cent. In July the corresponding figures were -131,000 and 9.5 per cent respectively.
Private payroll numbers, in focus this month due to the skew by end of temporary census jobs, also came in well above expectation, rising by 67,000 jobs versus a forecast of +41,000.
The headline flashes from Reuters:
RTRS-U.S. AUG NONFARM PAYROLLS -54,000 (CONSENSUS -100,000) VS JULY -54,000 (PREV -131,000), JUNE -175,000 (PREV -221,000)
RTRS-US AUG PRIVATE SECTOR JOBS +67,000 (CONS +41,000), JULY +107,000 (PREV +71,000); GOVT -121,000, CENSUS JOBS -114,000
RTRS-U.S. AUG JOBLESS RATE 9.6 PCT (CONS 9.6 PCT) VS JULY 9.5 PCT
RTRS-U.S. AUG AVERAGE HOURLY EARNINGS ALL PRIVATE WORKERS +0.3 PCT (CONS +0.1 PCT) VS JULY +0.2 PCT, TO $22.66 VS JULY $22.60
RTRS-U.S. AUG YEAR-ON-YEAR AVERAGE HOURLY EARNINGS ALL PRIVATE WORKERS +1.7 PCT
RTRS-U.S. AUG AVERAGE WORKWK ALL PRIVATE WORKERS 34.2 HRS (CONS 34.2) VS JULY 34.2 HRS, FACTORY 40.2 VS 40.1, OVERTIME 3.0 VS 2.9
RTRS-U.S. AUG FACTORY JOBS -27,000 (CONS +10,000) VS JULY +34,000 (PREV +36,000)
RTRS-U.S. AUG GOODS-PRODUCING JOBS ZERO, CONSTRUCTION +19,000, PRIVATE SERVICE-PROVIDING JOBS +67,000, RETAIL -5,000
RTRS-U.S. AUG AGGREGATE WEEKLY HOURS INDEX FOR ALL PRIVATE WORKERS UNCH VS JULY +0.4
Update: More positive surprises from the August payrolls report – a revision to the previous months number.
Click to enlarge.
Related links:
Those /important/crucial/vital US jobs figures - FT Alphaville
Non-farm payrolls data in: and the numbers are… – FT Alphaville