AMERICAN LABOR MARKET STRONGER THAN EXPECTED 🚨
August payrolls came in at 162,000 jobs, nearly triple the consensus of 56,000.
The unemployment rate came in at 4.1%, in line with expectations. Labor force participation rose to 61.6%, reversing part of the decline seen since November.
The private sector added 127,000 jobs and the government, 35,000. Average hourly earnings rose 0.3% on the month and 3.1% over the year.
Previous data were also revised higher: July moved from -23,000 to +21,000, and June to +31,000.
More support for a tighter liquidity thesis (some people will be reviving the hawkish thesis here, but you already know what I think about that)
August payrolls came in at 162,000 jobs, nearly triple the consensus of 56,000.
The unemployment rate came in at 4.1%, in line with expectations. Labor force participation rose to 61.6%, reversing part of the decline seen since November.
The private sector added 127,000 jobs and the government, 35,000. Average hourly earnings rose 0.3% on the month and 3.1% over the year.
Previous data were also revised higher: July moved from -23,000 to +21,000, and June to +31,000.
More support for a tighter liquidity thesis (some people will be reviving the hawkish thesis here, but you already know what I think about that)
