– NFP +96k vs +125k Consensus.
– July revised to 141k vs 163k previous
– Jobless rate 8.1 pct, feel free to ignore
– Labor force participation 63.5, lowest since 1981
– Initial reactions: 10yr Treasuries have shot down over 10 ticks and look ready to test the low 1.6’s pivot zone. Fannie 3.0 MBS are up more than half a point on the day to 103-25, which is nearly a point higher than the morning lows.
Total nonfarm payroll employment rose by 96,000 in August, and the unemployment
rate edged down to 8.1 percent, the U.S. Bureau of Labor Statistics reported today.
Employment increased in food services and drinking places, in professional and
technical services, and in health care.
Household Survey Data
The unemployment rate edged down in August to 8.1 percent. Since the beginning of
this year, the rate has held in a narrow range of 8.1 to 8.3 percent. The number of
unemployed persons, at 12.5 million, was little changed in August.
Since the beginning of
this year, employment growth has averaged 139,000 per month, compared with an average
monthly gain of 153,000 in 2011. In August, employment rose in food services and
drinking places, in professional and technical services, and in health care.