MNI: GERMANY NOVEMBER FLASH HICP -0.7% M/M (FCST: -0.5%)

MNI BRIEF: China May Inject CNY1 Trln To Replenish Big Banks

MNI BRIEF: China Sees Progress On EU EV Deal

MNI: PBOC Net Drains CNY279.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1894 Thurs; -1.38% Y/Y

MNI BRIEF: Bank of Korea Cuts Policy Rate to 3.00%: Press

MNI: GERMANY NOV CPI +2.2% Y/Y

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

MNI: GERMANY NRW NOV CPI -0.3% M/M, +1.9% Y/Y

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

August Unemployment Falls To 8.4%, Better Than Expected; Payrolls +1.4M

US DATA
MNI (Washington)
  • U.S. nonfarm payrolls rose by 1.371 million in August, coming in just above expectations for a 1.35 million gain, but slowing from July's 1.7 million, according to figures released Friday by the Bureau of Labor Statistics.
  • The unemployment shot down to 8.4% from 10.2% in July when markets had expected a decline to 9.8%. A misclassification error meant the actual rate of unemployment could be as much as 0.7 pp higher than reported, the BLS said.
  • Labor participation rose 0.3pp to 61.7%, still 1.7pp below February's level
  • Employment in government rose 344,000, accounting for a quarter of the overall gain; hiring for the 2020 Census was 238,000 of that.
  • Total private payrolls were up 1.1 million in August after rising 1.48 million in July, falling short of expectations for a 1.28 million increase. That was driven by retail (+248,900) and professional and business services (+197,000). Jobs in the leisure and hospitality sector, which has seen unprecedented growth following months of Covid-19 shutdowns, slowed markedly in August, rising by 174,000 after a 621,000 increase in July.
  • Average hourly earnings rose 0.4%, far above expectations for a flat reading in August. The length of the average workweek ticked up by one tenth to 34.6 hours.
MNI Washington Bureau | +1 202-371-2121 | brooke.migdon@marketnews.com
Energy BulletsCommodities
MNI Washington Bureau | +1 202-371-2121 | brooke.migdon@marketnews.com
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.