- Non-Farm Payrolls increased by 517,000 in January, exceeding the 185,000 expected.
- Unemployment rate falls to 3.4%, from 3.5%.
- The dollar rises along the market after US jobs data.
The January employment report showed above-expected numbers for jobs and below expectations for income. Non-Farm Payrolls shot up unexpectedly, posting the best month since July 2022.
The Non-Farm Payrolls they rose by 517,000 in January well above the 185,000 market consensus. December data was revised upwards from 223,000 to 260,000 and November data from 256,000 to 290,000.
The unemployment rate, which was expected to increase from 3.5% to 3.6%, fell to 3.4%. This despite the fact that the labor participation rate increased from 62.3% to 62.4%.
In regards to the incomethese rose at an annual rate of 4.4%, below the expected 4.9%.
He dollar rose across the market, marking new highs after the data. EUR/USD broke below 1.0900 and USD/JPY broke above 129.00.
Services sector data will be released later on Friday with the final reading of the S&P Global PMI (14:45 GMT) and the Services ISM (15:00 GMT).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
