According to data released on Friday by the US Bureau of Labor Statistics (BLS). Nonfarm payrolls increased by 311,000 in February. This number exceeded the 205,000-market consensus by a significant margin and followed January’s reading of 504,000.
According to further information from the employment report. The Labor Force Participation Rate increased slightly from 62.4% in January to 62.5%.
Moreover, the unemployment rate grew to 3.6%, while average hourly earnings increased from 4.4% to 4.6% annually, reflecting wage inflation.
Market Reaction After releasing (NFP) Nonfarm Payrolls.
The US Dollar Index was initially under further negative pressure. Despite the stronger-than-expected NFP result, and it was last seen down 0.4% on the day at 104.85.
