The US employment numbers we’ve been waiting so long finally get published
Skerdian Meta • 1 min read
The non-farm payrolls data for may which was published at the beginning of June showed a huge miss. From 150k-200k that we´re used to seeing the May number came at 38k. It wasn´t such a bad number for me particularly with the 0.2% decline in the unemployment rate. But, the market took it too seriously sending the Buck into a freefall and so did the FED as we saw it from the FOMC minutes which were released on Wednesday.
So, this particular piece of data became very important because it would tell us whether the May numbers were just a one off or a shift in the trend. The other economic data from the US hasn´t shown any real weakness so personally l was expecting the non-farm employment numbers to pick up from last month´s miss.
Well, the employment numbers were just released and the non-farm employment jumped to 287k from 175 expected, which is a huge jump and a long way away from last month´s figures. The 0.1% miss in the hourly earnings (wages) and the 0.2% jump in the unemployment rate might take some of the shine away but the 0.1% increase in the participation rate has affected the unemployment rate.