US October non-farm payrolls +261K vs +200K expected

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US October non-farm payrolls +261K vs +200K expected

<ul><li><a href="https://www.forexlive.com/news/us-september-non-farm-payrolls-263k-vs-250k-expected-20221007/" target="_blank">Prior </a>was +263K (revised to +315K)</li><li>Unemployment rate 3.7% vs 3.6% expected</li><li>Prior unemployment rate 3.5%</li><li>Participation rate 62.2% vs 62.3% prior (was 63.4% pre-pandemic)</li><li>U6 underemployment rate 6.8% vs 6.7% prior</li><li>Average hourly earnings +0.4% m/m vs +0.3% expected (prior +0.3%)</li><li>Average hourly earnings  +4.7% y/y vs +4.7% expected (prior 5.0%)</li><li>Average weekly hours 34.5  vs 34.5 expected</li><li>Change in private payrolls 233K vs +200K expected</li><li>Change in manufacturing payrolls +32K vs +15K expected</li><li>Household survey -306K vs +204K prior</li></ul><p>Implied odds of a 75 bps Fed hike were at 60% ahead of this report with the remainder at 50 bps. It rose to 64% afterwards. Non-farm payrolls continue to run hot. The uptick in unemployment is notable but it's coming in lower participation. The household survey is a fair bit softer than the establishment survey.</p>

                This article was written by Adam Button at forexlive.com.

Source: US October non-farm payrolls +261K vs +200K expected

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