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CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Saturday, 7 February 2015

Strongest US jobs gains in 17 years

NFPs revised up

The Bureau of Labor Statistics released its latest market figures for January 2015 which showed total nonfarm payrolls increasing by a solid and better than expected +257,000 to a record 140.849 million.

Jobs gains were seen across retail trade, construction, manufacturing, financial activities and healthcare.

More significantly there were material upwards revisions to the data relating to previous months.

The December result was revised up from +252,000 to a very strong +329,000, while November's already imperiously strong +353,000 was revised up to a rip-snorting +423,000.

Totting that little lot up and it so transpires that the US economy added well over 1 million jobs in the past 3 months alone.

That's an astonishing quarter and the strongest 3 month gain seen in the US in 17 years.

The revisions mean that average monthly gains for 2014 were more convincing than previously recorded at +256,000, adding further weight to the argument for an ongoing US recovery.

The unemployment rate was little changed at 5.7 percent as the size of the "labor" force grew, with the number of unemployed persons little changed in January.

Average hourly earnings increased by 0.5 percent or $0,12 to $24.25 to be 2.2 percent higher over the year.

The gold price took a knock after some decent gains of late, pulling back by 2.2 percent.

The Wrap

Incredibly strong quarterly employment growth in the US which led to a jump in bond yields.

The usual commentators can't or don't want to see it, but that looks to be a rapid fire pace of jobs growth.