Prior +22K (revised to -4K)
Private Payrolls +97K vs +62K expected. Prior 38k
Manufacturing Payrolls: -6K vs -8K expected. Prior -12k.
Government Payrolls +22K vs -16K prior
Unemployment Rate 4.4% vs 4.3% expected. Prior 4.3%
Average Earnings MoM +0.2% vs +0.3% expected. Prior 0.3%
Average Earnings YoY +3.8% vs +3.7% expected. Prior 3.7%
Average Workweek Hours 34.2K vs 34.2 expected Prior 34.2
Labor Force Participation Rate 62.4% vs 62.3% prior
U6 Underemployment 8.0% vs 8.1% prior
Two-month net revision -33K
This is the first jobs report since the government shutdown. This was initially scheduled for just a few days after the shutdown but was cancelled and now finally rescheduled. This is also the last jobs report before the Dec 10 FOMC decision. The market is pricing in just a 21% chance of a December rate cut and it’s hard to see how this report could change that.
This article was written by Adam Button at investinglive.com.