August Nonfarm Payrolls Reported At -54.000; Unemployment Rate At 9.6%
Nonfarm payrolls fell 54.000 in August. The consensus was at -105.000, revised reading for June was a decrease of 54.000. The unemployment was reported at 9.6% vs prior reading of 9.5% and consensus of 9.6%.
Average weekly hours worked for private employees rose 0.3% to 34.2.
Positive surprise.
Chart 1. Nonfarm Payrolls & Unemployment Rate
Source: BLS
Chart 2. US Average Weekly Hours All Employees
Source: BLS
Nonfarm Payrols, U.S. Average Weekly Hours Worked, Unemployment Rate