Summary:
January saw nonfarm payrolls grow by 353,000, surpassing Dow Jones' estimate of 185,000. Unemployment remained at 3.7%, beating the 3.8% estimate.
NFP (changes in non-farm payroll)
8/3/2024 (Fri)
Previous (Jan)：353k Forecast: 200k
Nonfarm payrolls expanded by 353,000 for January, much better than the Dow Jones estimate for 185,000. The unemployment rate held at 3.7%, against the estimate for 3.8%.
The report demonstrated the resilience of the US economy after some high-profile layoffs recently have raised questions about the durability of what has been a powerful trend in hiring.
One potentially important caveat in the report could be the divergence between average hourly earnings and hours worked, indicating employers chose to reduce hours rather than resort to layoffs.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
EUR/GBP rises above 0.8500 as soft UK data boosts BoE rate cut bets, while hawkish ECB remarks provide support for the euro.
2025-06-13
As the decline of US dollar hegemony intensifies, US-China trade tensions ease but tariffs stay high, raising global economic risks.
2025-06-13
London's FTSE 100 hit an all-time high on Thursday, led by energy shares, but geopolitical concerns limited further gains compared to European peers.
2025-06-13
