- Prior 156k. Revised to 157k
- Unemployment rate 4.8% vs 4.7% exp. Prior 4.7%
- Average hourly earnings 0.1% vs 0.3% exp m/m. Prior 0.4%. Revised to 0.2%
- 2.5% vs 2.8% exp y/y. Prior 2.9%. Revised to 2.8%
- Average weekly houyrs 34.4 vs 34.3 exp. Prior 34.3. Revised to 34.4
Not great news and a reminder that the market doesn't really give a hoot about the headline number.
Wages came off the boil and that will be a fat red cross in the Fed's hike column. Unemployment rose but that's mostly tied with the participation rate. The U6 is another problem as more people are being underutilised. This is far from a game changing report but it's negative enough to ruffle hike hopes for March, for now.