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Non-farm payrolls climbed by 151,000

Friday, Sep 02 2016

U.S. payrolls grew at a slower but solid pace in August while measures of labor slack were little changed, signs the job market is cooling as the economy approaches full employment. Payrolls climbed by 151,000 last month following a 275,000 gain in July that was larger than previously estimated, a Labor Department report showed Friday in Washington. The median forecast in a Bloomberg survey called for 180,000. The unemployment rate and labor participation rate held steady, while wage gains moderated and hours worked were the lowest since 2014.

Separate report on Trade Balance showed the trade gap narrowed 11.6 percent to $39.5 billion, declining after three straight months of increases. June's trade deficit was revised slightly up to $44.7 billion. Economists polled by Reuters had forecast the trade gap decreasing to $42.7 billion in July after a previously reported $44.5 billion shortfall. When adjusted for inflation, the deficit dropped to $58.3 billion from $64.5 billion in June. The trade report added to upbeat reports on consumer spending, industrial production and residential construction that have suggested the economy has regained momentum after output increased 1.0 percent in the first half.

 

Euro is currently being traded around 1.1230 level, Sterling is at 1.3340 handle, while Aussie is few points above 0.76 area.

More in this category: « UK Manufacturing PMI increased to 49.2 USD - Major events in the week ahead »

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