Non-farm payrolls for August 2017

  • Prior was +209K (revised to 189K
  • Estimates ranged from +139K to +226K
  • Private payrolls 165K vs +172K expected
  • Unemployment rate 4.4% vs 4.3% expected
  • Participation rate vs 62.9% prior

Wages data:

  • Average hourly earnings +0.1% vs +0.2% m/m expected
  • Prior average hourly earnings +0.3% (revised to +0.1%)
  • Average hourly earnings 2.5% vs +2.6% y/y expected
  • Average weekly hours 34.4 vs 34.5 expected

Details:

  • Hurricane Harvey had no effect
  • The June-July net negative revision was -41K

Full release.

Poor headlines all around. Big round of US dollar selling.