📊 Jobs Number Has Beaten Consensus Since March 2022: Cable FX Macro

**You can analyze Non Farm Payrolls headline historic surprise data on the Cable FX Macro online tools dashboard, subscribe at cablefxm.co.uk/reports

• The historic Non Farm Payrolls surprise figure showed the largest beat in January at 328K, making it an almost 1-standard deviation upside outrun (looking at the last 5-years of data)

• The headline jobs figure has beaten the consensus for 11/12 months in 2022 and by a consecutive 10-months streak

• The one-year average Non Farm Payrolls headline surprise stands now at 84K, the one-year standard deviation is 115K. This would translate to a band in a two standard deviation range of -145K to 313K for surprises