U.S. NFP Report Much Stronger Than Expected
US Nonfarm Payrolls Actual 228k (Forecast 140k, Previous 151k, Revised 117k)
- US Private Payrolls Actual 209k (Forecast 135k, Previous 140k, Revised 116k)
- US Manufacturing Payrolls 1k (Forecast 0k, Previous 10k, Revised 8k)
US Average Earnings YoY: 3.8% (Forecast 4%, Previous 4.0%)
- US Average Earnings MoM: 0.3% (Forecast 0.3%, Previous 0.3%)
US Labor Force Participation: 62.5% (Forecast 62.4%, Previous 62.4%)
- US Average Workweek Hrs: 34.2 (Forecast 34.2, Previous 34.1)
The NFP report suggests that US economy and US labour market may be still in better shape. However, situation for the US Federal Reserve is still complicated. According to US BLS retail jobs rise partially reflects return from strike. Traders pare bets on Fed rate cut by May after jobs report, June seen as likely start of rate cuts now.
Source: xStation5
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