- Unemployment stays unchanged at 3.7% in August as expected.
- Wage inflation, as measured by average hourly earnings, came in at 3.2% (YoY) in July.
- July's NFP reading of 164,000 gets revised down to 159,000.
The US Bureau of Labor Statistics on Friday reported that Nonfarm Payrolls in August increased by 130,000 following July's reading of 159,000 (revised from 164,000) and came in weaker than the market expectation of 158,000.
With the initial reaction, the US Dollar Index edged lower and was last down 0.02% on the day at 98.35.
Key takeaways from the press release
"The unemployment rate was unchanged at 3.7%."
"In August, average hourly earnings for all employees on private nonfarm payrolls rose by 11 cents to $28.11, following 9-cent gains in both June and July."
"Over the past 12 months, average hourly earnings have increased by 3.2%."
"The labor force participation rate edged up to 63.2% in August but has shown little change, on net, thus far this year."
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