Details of the May US jobs report 5 June 2015

  • Prior 223k. Revised to 221k
  • Unemployment rate 5.5% vs 5.4% exp. Prior 5.4%
  • Average earnings 0.3% vs 0.2% exp. Prior 0.1%
  • 2.3% vs 2.2% exp y/y. Prior 2.2%
  • Avg working hours 34.5s 34.5 exp. Prior 34.5
  • Participation rate 62.9% vs 62.8% prior
  • Private payrolls 262k vs 220k exp. Prior 213k. Revised to 206k
  • Manufacturing payrolls 7k vs 1k prior
  • Government payrolls 18k vs 10k prior. Revised to 15k

The buck slammed up on the headline number to 125.68 (that number sounds familiar ;-) ) and then dropped back slightly on the details to 124.25, and are currently trading at 125.45

The participation rate rising has helped knock the unemployment rate up a tick but overall it's a good report

On the wages front we've bettered expectations and continue to see some upside y/y

There may well be enough in this report to give the buck enough to have a go at the levels I mentioned around the upper 125's

US NFP average hourly earnings

US NFP