Details from the September 2016 US non farm payrolls and labour market report 7 October 2016
– Unemployment rate 5.0% vs 4.9% exp. Prior 4.9%
– Average hourly earnings 0.2% vs 0.2% exp m/m. Prior 0.1%
The participation rate can offset the rise in the unemployment rate and despite the modest payrolls miss, the y/y wages mean this isn’t that bad a report. That’s a sizeable jump in household employment.