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Underlying strength in the report, as Aug...>

US DATA
US DATA: Underlying strength in the report, as Aug payrolls +201k, 
higher than the +195k expected (whisper +179k), but June-July net 
revision -50k, the unemp rate unch at 3.9% (3.853%) and hourly 
earnings +0.4% vs +0.2% expected.
- Labor force participation rate -0.2pp to 62.7% in August. The labor 
force -469k, with household employed -423k and unemployed -46k after 
-284k in July. The U-6 unemp rate -0.1pp to 7.4%.
- Hourly earnings +0.4% (+0.370%) m/m after July was unrevised +0.3% 
(+0.259%). Hourly earnings still now +2.9% y/y rounded vs +2.7% in prev 
month.

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