Non-Farm Payrolls come out as expected, at +223K, but revisions don’t look good. The previous figure was revised down to 85K. Average hourly earnings rise only 0.1% but rose to +2.2% y/y. The good news is that the unemployment rate is down and this is accompanied by a rise in the participation rate to 62.8%, which is good news.
The USD is weaker initially but the move is reversing. It’s quite messy – more coming
Read the rest of the article Non-Farm Payrolls: +223K – details mixed and so is USD