MBS MID-DAY: NFP Takes Its Best Shot, MBS Still Standing

– Headline Payrolls +114 vs +113k consensus
– Unemployment Rate 7.8 pct vs 8.2 pct forecast
– Both of the last two months were revised significantly higher

Total nonfarm payroll employment increased by 114,000 in September. In 2012,
employment growth has averaged 146,000 per month, compared with an average
monthly gain of 153,000 in 2011. In September, employment rose in health care
and in transportation and warehousing.

The average workweek for all employees on private nonfarm payrolls edged up by
0.1 hour to 34.5 hours in September. The manufacturing workweek edged up by
0.1 hour to 40.6 hours, and factory overtime was unchanged at 3.2 hours.
The average workweek for production and nonsupervisory employees on private
nonfarm payrolls was unchanged at 33.7 hours.

In September, average hourly earnings for all employees on private nonfarm
payrolls rose by 7 cents to $23.58. Over the past 12 months, average hourly
earnings have risen by 1.8 percent. In September, average hourly earnings of
private-sector production and nonsupervisory employees increased by 5 cents
to $19.81.

The change in total nonfarm payroll employment for July was revised from
+141,000 to +181,000, and the change for August was revised from +96,000 to
+142,000.

Article source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/278159.aspx

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