Nonfarm payrolls rose 156K in August; unemployment rate ticked higher to 4.4%
Nonfarm payrolls rose 156K in August with private payrolls up 165K. The unemployment rate rose to 4.4% in August from 4.3% in July. Average hourly earnings rose 0.1% in August and year-over-year wage growth was steady at 2.5%. Even if we took the jobs data at face value, this would still be judged as a solid report with payrolls rising 156K and 63.8% of industries posting payroll gains. Please see the attachment for more.
RDQ Economics provides global macroeconomic consulting services with an emphasis on U.S. economic fundamentals and monetary policy.
Our views are driven by consistent application of classical economic and monetary principles and has generated superior anticipation of changes in the stance of monetary policy and of movements in economic growth and inflation.
The founders of RDQ Economics, John Ryding and Conrad DeQuadros, have a combined experience of 26 years on Wall Street, 12 years of experience in central banking at the Federal Reserve and the Bank of England and nine years in the independent research space. John and Conrad have worked closely with fixed income, foreign exchange, and equity traders and portfolio managers, which has enabled their analysis and advice to be tailored to a clientele that is focused on trading and investment decisions.
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