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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.
US DATA
Elsewhere, of interest in the Employment Report:
- The 3M/3M annual run rate of average hourly earnings ticked up to 3.8% from 3.7% prior; for non-supervisory workers, was up to 3.6% from 3.5%. Both are well below 4+% rates seen in Q1 though and looking at a longer-term horizon the trend remains to the downside, albeit probably still too high to be of comfort to the FOMC.
- Average weekly hours were steady at 34.3 (same as April), exactly in line with the 12-month average.
- The Household survey showed full-time jobs dropped by 694k (+939k prior), with part-time jobs up 286k (-914k prior) - a significant role reversal vs last month, with no obvious explanation.
- Full-time jobs have dropped by 310k this year, vs +210k for part-timers.
- Multiple jobholders were basically steady at 8.399m.
- Temporary help services payrolls - considered by some as a forward looking indicator for full-time labor demand - contracted for the 4th month in a row, and the 25th month in 26.
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.
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