US Nonfarm Payrolls rise by 661K in September vs. 850K expected
US Nonfarm Payrolls (NFP) in the US rose by 661,000 in September, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed August’s increase of 1,489,000 (revised from 1,3171,000) and fell short of the market expectation of 850,000.
Further details of the publication revealed that the Unemployment Rate dropped to 7.9% from 8.4% in August and came in better than analysts’ estimate of 8.2%. Moreover, the Labor Force Participation Rate dropped to 61.4% from 61.7% and the Average Hourly Earnings rose by 4.7% on a yearly basis, compared to the market expectation of 4.8%.
Follow our live coverage of the NFP report and the market reaction.
The US Dollar Index showed no immediate reaction to these figures and was last seen posting small daily gains at 93.78.
Additional takeaways from the press release
“The employment-population ratio, at 56.6%, changed little over the month but is 4.5 percentage points lower than in February.”
“Among those not in the labor force who currently want a job, the number of persons marginally attached to the labor force, at 1.9 million, changed little in September.”
“The average workweek for all employees on private nonfarm payrolls rose by 0.1 hour to 34.7 hours in September.”