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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.
US
- However, the unemployment rate was as expected after a bounce in household employment only just exceeded very strong labor force growth.
- Specifically, household employment surged 498k after three heavy monthly declines, whilst the labor force increased +469k after +150k in another sign of strong labor supply.
- It meant the unemployment rate came in at 3.83% (cons median 3.8 but average 3.83) and mostly consolidated its surprise 0.2pps increase to 3.86% back in Feb. Whilst we were surprised by the strength of payrolls growth, this pause in the unemployment rate was in line with our view.
- However, with the FOMC’s median participant forecasting only a small rise in the unemployment rate to 4.0% for 4Q24, and with relatively little change thereafter, any upward surprises in the unemployment rate over the next couple months could still generate a notably dovish market reaction. This is of note after the recent sharp move lower in NFIB hiring plans.
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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