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.
U.S. employers hired significantly more workers than Wall Street expected in February, but wage growth slowed and more people entered the workforce, the Bureau of Labor Statistics said Friday.
Nonfarm payroll employment increased 311,000, above expectations for a 225,000 gain, while the unemployment rate rebounded two-tenths to 3.6%. Average hourly earnings growth over the month slowed a tenth to 0.2%, a tenth weaker than expected, and was 4.6% over the year.
Despite the stronger-than-expected payrolls figures, the odds that the Federal Reserve will raise interest rates by a larger 50 bps fell to below 50%, according to futures pricing. The U.S. dollar saw downside pressure and the 10-year Treasury yield extended gains. (See: MNI INTERVIEW: Fed Should Hike 50BPS If Data Stay Strong-Kohn)
Job gains were led by the leisure and hospitality, retail trade, government and health care sectors. Employment declined in information and in transportation and warehousing, the BLS said. Strong employment gains in January and December were revised marginally lower by 34,000.
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.