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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.
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Free AccessMNI: Total US nonfarm employment fell by 20.5........>
MNI: Total US nonfarm employment fell by 20.5 million in April, after posting an
upwardly revised -870,000 drop in March (previously -701,000). April's m/m drop
is "the largest in the history of the series" (which began in 1948), according
to the BLS, and sunk employment to 14.7% as the US economy continues to real
from the fallout of Covid-19 and social distancing measures. The m/m loss was
only slightly better than the -22 million job loss and 16.0% unemployment
expected by markets. Leisure and hospitality took the biggest hits, dropping by
-7.653 million jobs. Total private payrolls overall fell by -19.520 million.
Retail trade, professional business services, and education and health services
all saw job losses over -2 million while US manufacturing saw a -1.3 million
hit. Government payrolls also fell by -980,000. Average hourly earnings
skyrocketed by +4.7% against March's revised +0.5% uptick. The positive jolt to
hourly earnings reflects "substantial job loss among lower-paid workers," the
BLS said, which "put upward pressure" on average hourly earning estimates. The
labor force participation rate fell by -2.5% to 60.2%, the lowest rate since
January 1973 (60.0%).
To read the full story
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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.