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US PAYROLLS UP TO 2012 LEVELS: EURUSD FALLS

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US employment data on stock.com

US PAYROLLS UP TO 2012 LEVELS: EURUSD FALLS

Dec 5 2014, 2.21pm GMT

STOCK.com

As a tranche of US employment data showed positive results, the euro fell against the dollar.

The latest data demonstrates that growth is still occurring in the US, people are getting paid more and consumer confidence is growing. On the optimistic reports, EURUSD gave an immediate reaction, falling from 1.2367 to 1.2280; a third of this loss was regained within the next half hour.

The Data:

  • Non-Farm Employment Change for November is 321K, significantly higher than the forecasted 231K and previous 243K.               
  • Unemployment Rate stayed the same as previous and met expectations at 5.8%
  • Average Hourly Earnings m/m went up to 0.4%, slightly above expectations of 0.2% and previous 0.1%.

Total nonfarm payroll employment increased by 321,000 in November, the unemployment rate held at 5.8 percent, and the number of unemployed persons was little changed at 9.1 million. Over the year, the unemployment rate and the number of unemployed persons were down by 1.2 percentage points and 1.7 million, respectively.

The civilian labor force participation rate held at 62.8 percent in November and has been essentially unchanged since April. The employment-population ratio, at 59.2 percent, was unchanged in November but is up by 0.6 percentage point over the year.

Industry figures:

  • Employment in professional and business services increased by 86,000 compared with an average gain of 57,000 per month over the prior 12 months.
  • Employment in retail trade rose by 50,000 compared with an average gain of 22,000 per month over the prior 12 months. The highest gain was in motor vehicle and parts dealers, supporting the fact that more cars are being sold due to falling oil prices.
  • Health care added 29,000 jobs over the month.
  • Manufacturing added 28,000 jobs. Over the year, manufacturing has added 171,000 jobs, largely in durable goods.
  • Financial activities added 20,000 jobs in November, with half of the gain in insurance carriers and related activities.
  • Transportation and warehousing employment increased by 17,000.
  • Employment in food services and drinking places continued to trend up (+27,000) and has increased by 321,000 over the year.
  • Construction employment also continued to trend up in November (+20,000).

In November, the average workweek for all employees on private nonfarm payrolls rose by 0.1 hour to 34.6 hours. The manufacturing workweek rose by 0.2 hour to 41.1 hours, and factory overtime edged up by 0.1 hour to 3.5 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls was unchanged at 33.8 hours.

Average hourly earnings for all employees on private nonfarm payrolls rose by 9 cents to $24.66 in November. Over the year, average hourly earnings have risen by 2.1 percent.

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