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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 DATA
- The unemployment rate came in lower than expected, printing a ‘genuine’ 3.5% with 3.50% (cons 3.6) after 3.57%, although as we noted in the preview there was a healthy share of analysts looking for such a move.
- From the household survey, employment (+268k) outstripped the labor force (+152k).
- The participation rate was exactly the same at 62.58% (in line) as it remains nearly 1pp below pre-pandemic levels. Prime-age participation inched a tenth lower to 83.4% (but still 0.4pps above pre-pandemic recent highs after its recent push higher), offset by a rare push increase from the 55+ cohort in what could be seen as potentially positive for future labour supply if it’s continued.
- On a more hawkish angle, the U6 underemployment rate fell back 0.2pps to 6.7%, with those working part-time for economic reasons falling -191k after a particularly strong +452k increase in June.
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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