- Prior was +254K
- Two-month net revision:
- Unemployment rate: 4.1% vs 4.1% prior
- Unrounded unemployment rate: 4.145% vs 4.0510% prior
- Participation rate: 62.6% vs 62.7% prior
- Private payrolls +12K vs +223K prior
- Prior private payrolls +223K revised to +223K
- U6 underemployment rate: 7.7% vs 7.7% prior (unchanged)
- Average hourly earnings: +0.4% vs +0.4% prior
- Prior avg hourly earnings: +0.5% (unrevised)
- Average hourly earnings y/y: 4.0% vs 4.0% prior
- Average weekly hours: 34.3 vs 34.3 prior
- Change in manufacturing payrolls: -46K vs -7K prior
- Government jobs: +40K vs +31K prior
- Full time: -164K vs +631K prior
- Part time: -227K vs -201K prior
Overall payroll growth slowed sharply to just +12K in October with manufacturing employment down -46K largely due to strike activity. The BLS said it wasn’t able to quantify the effects of the hurricane but the market is likely to be forgiving due to those impacts.
In any case, this is certainly the final green light for the Fed to cut rates next week.
This article was written by Adam Button at www.forexlive.com.
#October #nonfarm #payrolls #12K #113K #expected #Forexlive
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