- Prior 175k. Revised to 197k
- Unemployment rate 6.7% vs 6.6% exp. Prior 6.7%
- Private payrolls 192k vs 195k exp. Prior 162k. Revised to 188k
- Manufacturing payrolls -1k vs 7k exp. Prior 6k. Revised to 19k
- Government payrolls 0k vs 13k prior. Revised to 9k
- Average weekly earnings 0.0% vs 0.2% exp. Prior 0.4%
- Average weekly hours 34.5 vs 34.4 exp. Prior 34.2
- Participation rate 63.2% vs 63.0 prior
Not far off expectations and good upward revisions but manufacturing and government payrolls take a hit. Also further weakness in wages. Unemployment rate stays at 6.7%.
The initial reaction slammed the dollar down to 103.58 but it’s shot back up into 104 to 104.08.
It’s less than a lot of the market was expecting but the fact that it’s not bad has been welcomed too. If anything it’s put the jobs train back on the track that the weather derailed and that will likely comfort the market at least.
US Non-farm payrolls 04 April 2014
US NFP & unemployment rate 04 04 2014
