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6 Feb 2015
Strong non-farm payroll print, huge upward revisions for Dec and Nov
FXStreet (London) - Total non-farm payroll employment rose by 257,000 in January, and the unemployment rate was little changed at 5.7 percent, the US Bureau of Labor Statistics reported today.
The print was stronger than expected with the consensus pointing to a decline to 234k.
The biggest news was the huge upwards revision in December and November’s already strong numbers. The change in total nonfarm payroll employment for November was revised from +353,000 to +423,000, and the change for December was revised from +252,000 to +329,000. With these revisions, employment gains in November and December were 147,000 higher than previously reported.
Job gains occurred in retail trade, construction, health care, financial activities, and manufacturing.
The unemployment rate, at 5.7 percent, changed little in January and has shown no net change since October. The number of unemployed persons, at 9.0 million, was little changed in January.
The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was essentially unchanged in January at 6.8 million.
In January, 2.2 million persons were marginally attached to the labor force, down by 358,000 from a year earlier. Among the marginally attached, there were 682,000 discouraged workers in January, down by 155,000 from a year earlier. Discouraged workers are persons not currently looking for work because they believe no jobs are available for them.
After incorporating revisions for November and December (which include the impact of the annual benchmark process), monthly job gains averaged 336,000 over the past 3 months.
The change in total nonfarm payroll employment for November was revised from +353,000 to +423,000, and the change for December was revised from +252,000 to +329,000. With these revisions, employment gains in November and December were 147,000 higher than previously reported.
The print was stronger than expected with the consensus pointing to a decline to 234k.
The biggest news was the huge upwards revision in December and November’s already strong numbers. The change in total nonfarm payroll employment for November was revised from +353,000 to +423,000, and the change for December was revised from +252,000 to +329,000. With these revisions, employment gains in November and December were 147,000 higher than previously reported.
Job gains occurred in retail trade, construction, health care, financial activities, and manufacturing.
The unemployment rate, at 5.7 percent, changed little in January and has shown no net change since October. The number of unemployed persons, at 9.0 million, was little changed in January.
The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was essentially unchanged in January at 6.8 million.
In January, 2.2 million persons were marginally attached to the labor force, down by 358,000 from a year earlier. Among the marginally attached, there were 682,000 discouraged workers in January, down by 155,000 from a year earlier. Discouraged workers are persons not currently looking for work because they believe no jobs are available for them.
After incorporating revisions for November and December (which include the impact of the annual benchmark process), monthly job gains averaged 336,000 over the past 3 months.
The change in total nonfarm payroll employment for November was revised from +353,000 to +423,000, and the change for December was revised from +252,000 to +329,000. With these revisions, employment gains in November and December were 147,000 higher than previously reported.