Market News

US non-farm payroll report reveal little changed employment data

 
 

The latest US non-farm payroll (NFP) report for the month of September was released today, Friday, by the Bureau of Labour Statistics. 

The key US jobs report came in little changed, showing a total NFP employment decline by 33,000. However, the unemployment rate is down to 4.2% in September.

"A sharp employment decline in food services and drinking places and below-trend growth in some other industries likely reflected the impact of Hurricanes Irma and Harvey," the release states. 

Following the announcement, the USD climbed. Currently trading at 1.1685 against the Euro. The dollar recently strengthened on better-than-forecast data reported from a number of sectors. However, the currency also comparatively benefitted from the weakening of other currencies elsewhere during the past week. 

Before today's NFP release, market watchers largely expected employment growth to have slowed down after the devastating hurricanes hit large parts of the American South recently. Many mean that the figures should be viewed cautiously because of the effects of the weather circumstances, and it remains uncertain if and how the readings will impact the US Federal Reserve's interest rate hike prospects. 

Some revisions in today's report were added for the months of July and August. July's numbers were revised down from +189,000 to +138,000 while August's were revised up from +159,000 to +169,000.