November 2017 US non-farm payrolls and employment report 8 December 2017

  • Prior 261k
  • Average hourly earnings 0.2% vs 0.3% exp m/m. Prior 0.0%
  • 2.5% vs 2.7% exp y/y. Prior 2.4%
  • Average weekly hours 34.5 vs 34.4 exp. Prior 34.4
  • Unemplyment rate 4.1% vs 4.1% exp. Prior 4.1%
  • Participation rate 62.7% vs 62.7% prior
  • U6 underemployment 8.0% vs 7.9% prior
  • Private payrolls 221k vs 190k exp. Prior 252k
  • Manufacturing payrolls 31k vs 17k exp. Prior 24k
  • Government payrolls 7k vs 5k exp. Prior 9k

Wages miss.

So we’ve dumped on the worse than expected wages but as expected, there’s nothing here to sink an expected Fed hike next week. USDJPY traded down to around 113.25 but the went back to 113.55. I’d give it some time to settle down and then we’ll see what we’re going to do with all these options at the big figures.

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

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Ryan Littlestone

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