Breaking: US Nonfarm Payrolls surge by 1.37 million in August vs. 1.4 million expected
- 4th September 2020
- Posted by: Hakeem
- Category: FUNDAMENTAL ANALYSIS
Nonfarm Payrolls (NFP) in the US rose by 1,371,000 in August, the data published by the US Bureau of Labor Statistics showed on Friday. This reading fell short of the market expectation of 1.4 million and followed July’s print of 1,734,000 (revised from 1,763,000).
Further details of the publication revealed that the Unemployment Rate dropped to 8.4% from 10.2% in July and came in better than analysts’ estimate of 9.8%. Additionally, the Labor Force Participation Rate improved to 61.7% from 61.4% and the Average Hourly Earnings rose 4.7% on a yearly basis to match July’s reading.