Breaking: US Nonfarm Payrolls rise by 245,000 in November vs. 469,000 expected
|
Nonfarm Payrolls (NFP) in the US rose by 245,000 in November, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed October's increase of 610,000 (revised from 638,000) and missed the market expectation of 469,000 by a wide margin.
Further details of the publication showed that the Unemployment Rate fell to 6.7% from 6.9% in October and the Labor Force Participation Rate edged lower to 61.5% from 61.7%.
Follow our live coverage of the NFP report and the market reaction.
Market reaction
With the initial reaction, the US Dollar Index edged lower and was last seen losing 0.2% on the day at 90.53.
Additional takeaways
"The employment-population ratio, at 57.3%, changed little over the month but is 3.8 percentage points lower than in February."
"In November, average hourly earnings for all employees on private nonfarm payrolls increased by 9 cents to $29.58."
"The average workweek for all employees on private nonfarm payrolls remained unchanged at 34.8 hours in November."
Related articles
NFP Quick Analysis: Why the meager 245K rise is unlikely to depress the dollar, three reasons.
It is all a matter of timing. An increase of 245,000 jobs would be considered robust in the pre-pandemic era, but when the data relates to November 2020, a figure in the upper edge of the old normal represents the end of the recovery.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.