According to our analysis USDJPY and EURUSD moved around 35 pips on US Employment Situation (Non-farm payrolls / NFP) data on 8 December 2023.

USDJPY (23 pips)

EURUSD (12 pips)

Charts are exported from JForex (Dukascopy).

The Employment Situation Summary for November 2023, released by the U.S. Bureau of Labor Statistics (BLS), provides key insights into the labor market. Here are the highlights:

Household Survey Data:

  1. Unemployment Rate: The unemployment rate decreased to 3.7 percent, with 199,000 new jobs added in November.

  2. Demographic Unemployment Rates:

    • Teenagers: 11.4 percent (down in November).

    • Adult men: 3.7 percent.

    • Adult women: 3.1 percent.

    • Whites: 3.3 percent.

    • Blacks: 5.8 percent.

    • Asians: 3.5 percent.

    • Hispanics: 4.6 percent.

  3. Long-Term Unemployment: The number of long-term unemployed (jobless for 27 weeks or more) decreased to 1.2 million, accounting for 18.3 percent of all unemployed persons.

  4. Labor Force Participation: The employment-population ratio increased to 60.5 percent. The labor force participation rate was little changed at 62.8 percent.

  5. Part-Time Employment: The number of persons employed part-time for economic reasons decreased by 295,000 to 4.0 million in November.

  6. Persons Not in the Labor Force: The number of persons not in the labor force who wanted a job was 5.3 million, little different from the prior month.

Establishment Survey Data:

  1. Nonfarm Payroll Employment: Increased by 199,000 in November, with job gains in health care, government, and manufacturing. Retail trade employment declined.

  2. Industry-Specific Employment:

    • Health care: +77,000 jobs.

    • Government: +49,000 jobs.

    • Manufacturing: +28,000 jobs (reflecting the return of workers from a strike).

    • Retail trade: -38,000 jobs.

    • Leisure and hospitality: +40,000 jobs.

    • Social assistance: +16,000 jobs.

    • Information: +10,000 jobs (motion picture and sound recording industries added 17,000 jobs).

    • Transportation and warehousing: Little change.

    • Other major industries: Little change.

  3. Average Hourly Earnings: Rose by 12 cents (0.4 percent) to $34.10 for all employees on private nonfarm payrolls. Over the past 12 months, average hourly earnings increased by 4.0 percent.

  4. Average Workweek: Edged up by 0.1 hour to 34.4 hours for all employees on private nonfarm payrolls.

  5. Revisions: The change in total nonfarm payroll employment for September was revised down by 35,000, and the change for October remained at +150,000. Combined, employment in September and October is 35,000 lower than previously reported.

The next Employment Situation report for December is scheduled for release on Friday, January 5, 2024, at 8:30 a.m. (ET).

Source: https://www.bls.gov/news.release/empsit.nr0.htm

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