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U.S. May Non-Farm Payroll By The Numbers

By Dean PopplewellMarket OverviewJun 01, 2018 11:25
U.S. May Non-Farm Payroll By The Numbers
By Dean Popplewell   |  Jun 01, 2018 11:25
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It’s another strong U.S. employment report

  • US Labor May Nonfarm Payrolls +223K; Consensus +190K
  • US May Unemployment Rate 3.8%; Consensus 3.9%
  • US May Average Hourly Earnings +0.3%, or +$0.08 to $26.92; Over Year +2.7%
  • US May Private Sector Payrolls +218K and Government Payrolls +5K
  • US May Average Workweek Unchanged at 34.5 Hours
  • US May Labor-Force Participation Rate 62.7%
  • US April Payrolls Revised to +159K; Mar Revised to +155K
  • US April Unemployment Unrevised at 3.9%

U.S. unemployment rate fell to an 18-year low last month and U.S. employers steadily added jobs.

Non-farm payrolls rose a seasonally adjusted 223,000 in May and the unemployment rate ticked down to 3.8%.

Wages in May improved modestly, growing 2.7% y/y. Revised figures show employers added 159,000 jobs in April and 155,000 in March, a net upward revision of 15,000.

Digging deeper

Average hourly earnings for all private-sector workers increased 8c last month to $26.92. The 2.7% annual again is small compared to pre-recession readings.

Note: The last time unemployment was near current levels wages rose 4.3% from a year earlier.

Net result, the low unemployment rate and modest wage increases should keep Fed in line to hike rates at a meeting later this month. Consumer inflation has strengthened in recent months to reach the Fed’s 2% annual target.

The USD has extended its gains against some G7 currency pairs (€1.1670, C$1.2971, ¥109.60, £1.3317).

U.S. 10-year yield trades up at 2.91%.

EUR/USD For May 31-June 1, 2018.
EUR/USD For May 31-June 1, 2018.

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

U.S. May Non-Farm Payroll By The Numbers

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U.S. May Non-Farm Payroll By The Numbers

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