US: Jobs in January far above the consensus

Joseph Trevisani from FXStreet reviews the Nonfarm payrolls data published in the United States which made the dollar gaining 15 points against the euro.

Key quotes

“Non-farm payrolls added 225,000 new positions, well beyond the 160,000 median estimate.”

“Unemployment edged 0.1% higher to 3.6% as more people from the labor sidelines sought work but it remains near its 50 year low.”

“The dollar initially moved higher on the release gaining about 15 points to 1.0955 against the euro, a four-month high before going to ground at 1.0960 in mid-morning in New York.”

“Average hourly earnings  were 3.1% higher on the year and the December gain was revised up to 3% from 2.9%, extending the run of 3% or higher increases to 18 months, the longest  since the recession.”

“Private payrolls added 206,000 workers and government employment at all levels rose 19,000.”