Analysis: U.S. January Non-Farm Payroll Report Surprises to the Upside

Deep Tide TechFlow News, February 11 — According to foreign media analysis, U.S. non-farm payrolls increased by 130,000 in January, significantly surpassing market expectations. However, it should be noted that some of this may be due to downward revisions of data from the previous year. Non-farm employment for November and December was revised downward by a total of 17,000. The U.S. unemployment rate unexpectedly dropped to 4.3% in January. The seasonally adjusted annual employment benchmark was revised downward by 862,000, which also appears to be better than market expectations. Average hourly wages increased by 0.4% month-over-month, exceeding expectations. Manufacturing employment seems to have finally turned positive, with 5,000 new jobs added in January. The labor force participation rate is another positive factor, rising from 62.4% to 62.5%. From any perspective, the overall changes in non-farm employment data and the unemployment rate far exceeded expectations. The market’s immediate reaction was a strengthening dollar and weakening yields on U.S. Treasury bonds across all maturities. (Jin10 Data)