US non-farm payroll employment grew 187k in August, above expectation of 170k. That’s notably lower than the average monthly gain of 271k over the prior 12 months.
Unemployment rate jumped from 3.5% to 3.8%, above expectation of 3.5%, marking the highest level in a year and a half. Number of unemployment persons increased by 514k to 6.4m. Labor force participation rate rose 0.2% to 62.8%, first increase since March.
Average hourly earning rose 0.2% mom, below expectation of 0.3% mom. Over the past 12 months, average hourly earnings have increased by 4.3% yoy.
