December 2018 US non-farm payrolls and employment report 4 January 2019

  • Non-farm payrolls 312k vs 177k exp. Prior 155k
  • Private payrolls 301k vs 175k exp. Prior 161k
  • Manufacturing payrolls 32k vs 20k exp. Prior 27k
  • Government payrolls 11k vs -6k prior
  • Unemployment rate 3.9% vs 3.7% exp. Prior 3.7%
  • Average hourly earnings 0.4% vs 0.3% exp exp m/m. Prior 0.2%
  • 3.2% vs 3.0% exp y/y. Prior 3.1%
  • Average workweek hours 34.5 vs 34.5 exp. Prior 34.4
  • Participation rate 63.1% vs 62.9% prior
  • U6 underemployment 7.6% vs 7.6% prior

Very strong numbers and a jump in the participation rate drives the unemployment rate up too. There’s likely to be a lot of seasonality in these numbers.

USDJPY jumped to 108.45 from 108.05, and it’s had a muted reaction elsewhere.

Ryan Littlestone

Pin It on Pinterest