December 2024 nonfarm payrolls
- Two-month net revision: -8K versus +56K prior
- Unemployment rate: 4.1% versus 4.2% expected and 4.2% prior
- Unrounded unemployment rate: 4.0855% vs 4.2457% prior
- Prior unemployment rate: revised to 4.2% from 4.2%
- Participation rate: 62.5% versus 62.5% expected
- U6 underemployment rate: 7.5% versus 7.8% prior
- Average hourly earnings: +0.3% m/m versus +0.3% expected and +0.4% prior
- Prior avg hourly earnings: +0.2% (revised from +0.4%)
- Average hourly earnings: +3.9% y/y versus 4.0% expected and 4.0% prior
- Average weekly hours: 34.3 versus 34.3 expected and 34.3 prior
- Change in private payrolls: +223K versus +135K expected and +194K prior
- Change in manufacturing payrolls: -13K versus +5K expected and +22K prior
- Government jobs: +33K versus +33K prior
- Full time: +87K versus -355K prior
- Part time: +247K versus +23K prior
What a report! This is a very strong one and runs against all the other main surveys, which haven't been anything spectacular. The US dollar is soaring on the headlines, with moves of 80-100 pips across the board.
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