Nonfarm payrolls rose by 336,000 in September, surpassing the Dow Jones forecast of 170,000 and exceeding the prior month by over 100,000.
NFP (Changes in non-farm payroll)
3/11/2023 (Fri)
Previous (Sep):336k Forecast: 172k
Nonfarm payrolls increased by 336,000 in September, better than the Dow Jones consensus estimate for 170,000 and more than 100,000 higher than the previous month.
The payrolls increase was the best monthly number since January but wage growth slowed. Average hour earnings increased 4.2% from a year ago, down from 4.3% in August.
The number of Americans applying for jobless benefits rose last week but remains historically low. It is argued that a soft landing was possible because of the unprecedented level of labor market tightness.
However, stabilizing at a still-overheated labor market is likely inconsistent with achieving the Fed’s target of 2 percent inflation in a timely and sustainable manner.
US job growth in July slowed more than expected, raising fears of a broader economic slowdown and causing risky assets to tumble throughout the month.
2024-09-06Oil prices rose slightly on Friday, as investors balanced a large US crude inventory draw and OPEC+ production delays with mixed US employment data.
2024-09-06Bullion steadied Thursday below $2500 after a market sell-off. It is expected to remain near this level until the NFP report is released.
2024-09-05