Spot On!

Spot on! Finally economists and traders were able to correctly guess the non-farm payrolls number for August. The figure released at 7:30 am Chicago time showed that payrolls in August climbed by 128,000, almost exactly the 130,000 jobs figure most analysts were expecting. The unemployment rate dropped 0.1% to 4.7%, in-line with expectations. For inflation-watchers, there was good news, as average hourly earnings increased by 0.1%, well below the 0.3% expected and last month's 0.4% rise. The payroll figures for July were revised upward to 121,000 jobs, from the previously reported 113,000 jobs. Read More....