Breaking News
0

U.S. job creation beats forecasts in February, wage inflation misses

Economic IndicatorsMar 10, 2017 08:31AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. U.S. creates 235,000 jobs in February vs. 200,000 forecast

Investing.com – The U.S monthly employment report showed that the economy created more jobs than expected in February although wage inflation missed forecasts, according to official data released on Friday.

Non-farm payrolls (NFP) rose 235,000 in February, compared to the rise of 238,000 in the first month of the year that was revised from the initial increase of 227,000. The data beat the consensus estimate for the creation of 200,000 jobs.

The jobless rate decreased as expected to 4.7%, from the prior 4.8%.

Average hourly earnings rose month-on-month by 0.2%, compared to the prior increase of 0.2%, which was revised from a 0.1% advance. Analysts had expected a gain of 0.3%.

Year-on-year, wage inflation rose 2.8%, in line with expectations and the prior 2.8% increase that was revised up from the initial reading of a 2.5% advance.

The increase in wages is being closely monitored by the Federal Reserve for evidence of diminishing slack in the labor market and upward pressure on inflation.

Additionally, the private sector created more of the new job contracts than expected in February with a total of 227,000, compared to consensus expectations for 193,000. January’s number was revised down to 221,000 private nonfarm payrolls, from the prior reading of 237,000.

Government payrolls increased by 8,000 last month, compared to the 17,000 public jobs created in January, revised from an initial decline of 10,000 positions.

The participation rate edged forward to 63.0% in February, from the prior reading of 62.9%.

The U6 unemployment rate, that includes those workers who are working part-time for purely economic reasons, decreased to 9.2% last month from January’s reading of 9.4%.

Furthermore, the average weekly hours remained unchanged at 34.4 in February, in line with consensus expectations.

Immediately after the release, the dollar weakened against major rivals. Specifically, the U.S. Dollar Index traded at 101.75, compared to 101.89 earlier. EUR/USD traded at 1.0619, from 1.0606 before the release, USD/JPY traded at 115.26, from 115.35 earlier, and GBP/USD was at 1.2162, compared to the previous 1.2153.

U.S. futures pointed to a higher open on Wall Street. The blue-chip Dow futures gained 0.49%, S&P 500 futures rose 0.54% while the Nasdaq 100 futures traded up 0.44%.

Elsewhere, in the commodities market, gold futures traded at $1,199.55 a troy ounce, compared to $1,198.15 ahead of the data, while crude oil traded at $49.61 a barrel from $49.56 earlier.

U.S. job creation beats forecasts in February, wage inflation misses
 

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments
Kim Boesgaard Lauritsen
Kim Boesgaard Lauritsen Mar 10, 2017 11:42AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Hey guys. Thanks very much for sharing this. IT really helps med in my every day life. Have a nice day...
Reply
0 0
andre Vieira
andre Vieira Mar 10, 2017 9:10AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
if the news are good, why did the dollar do down?
Reply
0 0
Russell Calkins
Russell Calkins Mar 10, 2017 9:10AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Buy on the news sell on the facts. It's also a Friday with some book squaring going on. Common
Reply
0 0
Sami Awadalla
Sami Awadalla Mar 10, 2017 9:10AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Wage inflation is pivital to the feds interest rate policies. The fact that it missed expectations both this month and last will put a limit on just how hawkish they can afford to be.
Reply
0 0
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email