4 Mar 2016
US non-farm payrolls blows past expectations, wage growth slows
The data released in the US today showed the jobs growth accelerated in February, but wage growth slowed.
The Bureau of Labor Statistics showed that nonfarm payrolls grew 242,000. Economists were expecting a gain of 190K - 195K. The unemployment rate held steady at 4.9%, an eight-year low, as expected. Labor force participation rate rose a bit to 62.9% from 62.8%.
Upward revisions
The report also carried upward revisions for previous two months. January was revised up to 182,000 from 158,000, while December was changed to 271,000 from 262,000.
However, the Average hourly earnings fell 0.1% month-on-month and rose 2.2% year-on-year. Both missed forecasts.
The Bureau of Labor Statistics showed that nonfarm payrolls grew 242,000. Economists were expecting a gain of 190K - 195K. The unemployment rate held steady at 4.9%, an eight-year low, as expected. Labor force participation rate rose a bit to 62.9% from 62.8%.
Upward revisions
The report also carried upward revisions for previous two months. January was revised up to 182,000 from 158,000, while December was changed to 271,000 from 262,000.
However, the Average hourly earnings fell 0.1% month-on-month and rose 2.2% year-on-year. Both missed forecasts.