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NFP employment up by 242,000, unemployment rate stable

Friday, Mar 04 2016
Employers added more workers in February than projected but wages unexpectedly declined, dashing hopes that reduced slack in the labor market was starting to benefit all Americans. The 242,000 gain followed a 172,000 rise in January that was larger than previously estimated, a Labor Department report showed Friday. The jobless rate held at 4.9% as people entered the labor force and found work. Average hourly earnings dropped, the first monthly decline in more than a year. 
 The median forecast in a Bloomberg survey called for a 195,000 advance. Estimates of 92 economists ranged from gains of 70,000 to 245,000. January was initially reported as a 151,000 increase. Revisions to prior reports added a total of 30,000 jobs to payrolls in the previous two months. The unemployment rate, which is derived from a separate Labor Department survey of households, was projected to hold at an eight-year low of 4.9%, according to the survey median.
 
Euro is currently being traded few points above 1.0920 level, Sterling is around 1.4120 handle, while Aussie is around 0.7380 area.
 
Source: Bloomberg.com
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