🇺🇸❗️Payrolls Net Revisions Take Circa 40% Of Prior Two Monthly Gains: Cable FX Macro
- Rosbel Durán
- Sep 1, 2023
- 1 min read
**As seen in Non Farm Payrolls Dashboard, subscribe at cablefxm.co.uk/reports
U.S. August Non Farm Payrolls rose by 187K, this was above the consensus forecast of 170K (the projections ranged from 120K to 230K)
The prior month was revised to 157K from 187K, the net revision took off 110K jobs from the prior two months, this was around 40% of the monthly gains
The unemployment rate jumped to 3.8% vs the median expectation of 3.5%, the figure came to top the highest forecast in a survey compiled by Bloomberg
The participation rate ticked higher to 62.8% from the prior 62.6%, the metric is now at the highest level since the pandemic
Average hourly earnings came in softer vs the prior month and the estimate at 0.2% M/m, the annual rate of 4.3% was in line with the consensus
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