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