MNI POLICY: Cracks On MPC But Gradualism Holds, Bailey Nuanced

MNI BRIEF: Fed's Goolsbee Sees Rates 'A Fair Bit Lower'

MNI: BLS: NET REVISIONS TO JULY, AUG PAYROLLS +72K

MNI NBP WATCH: Rates Held As Energy, Wages Push Up Prices

MNI BRIEF: NBP Keeps Key Interest rates unchanged

MNI BRIEF: Turkish Inflation Expectations Ease As CBRT Holds

Economic Data Calendar

CANADA SEP IVEY PURCHASING MANAGERS INDEX 53.1 SA

EZ/UK Bond Supply Calendar: BoE APF Monday; EU Syndication

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

US DATA: Strong Beat For Payrolls And July Weak Patch Revised Away

US DATA
USGlobalEM BulletFixed Income BulletsData BulletBulletMarketsEmerging Market NewsForeign Exchange BulletsRegionNorth America
  • Payrolls growth was far stronger than expected in September at 254k (cons 150k) for a 104k surprise, nearly entirely driven by the 98k surprise for private payrolls (223k vs cons 125k).
  • Strong two-month revisions of 72k were mostly concentrated in the public sector with the private sector revised up by 21k.
  • The upward revisions in turn were concentrated in July rather than August, which is more positive than it sounds as it revises away what was a particularly weak patch - what was seen as 89k after last month’s revisions is now 144k for less sign of recent deterioration.
  • The three-month average for total payrolls is 186k and a six-month of 167k. 
110 words

To read the full story

Close

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.
  • Payrolls growth was far stronger than expected in September at 254k (cons 150k) for a 104k surprise, nearly entirely driven by the 98k surprise for private payrolls (223k vs cons 125k).
  • Strong two-month revisions of 72k were mostly concentrated in the public sector with the private sector revised up by 21k.
  • The upward revisions in turn were concentrated in July rather than August, which is more positive than it sounds as it revises away what was a particularly weak patch - what was seen as 89k after last month’s revisions is now 144k for less sign of recent deterioration.
  • The three-month average for total payrolls is 186k and a six-month of 167k.