February non-farm payrolls +379K vs +198K expected

Author: Adam Button | Category: News

February 2021 US jobs data:

non-farm payrolls
  • Prior was +49K (revised to +166K)
  • Unemployment rate 6.2% vs 6.3%  expected
  • Prior unemployment rate 6.3%
  • Participation rate 61.4% vs 61.4% expected (was 62.8% pre-pandemic)
  • Prior participation rate 61.4%
  • Underemployment rate 11.1% vs 11.1% prior
  • Average hourly earnings +0.2% m/m vs +0.2% expected
  • Average hourly earnings +5.3% y/y vs +5.3% expected
  • Average weekly hours 34.6 vs 34.9 expected
  • Two month net revision -159K
  • Change in private payrolls +465K vs +200K expected
  • Change in manufacturing payrolls +21K vs +15K expected
  • Long-term unemployed at 4.1m vs 4.0m prior
  • The employment-population ratio, at 57.6% vs 57.5% prior
  • Full report
Good news is bad news with this report. US 10-year yields touched above last week's high immediately afterwards and the dollar rose. That's weighed on US equity futures.

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