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Preview: NFP Report (September)

Xero Capital Markets Ltd.

What Happen In August NFP?

• US economy added 1.37M jobs in August, matching expectations.
• Job additions was revised lower to 1.73M from 1.76M.
• US unemployment rate improved to 8.4% from 10.2%, and compared to market expectations 9.8%.
• Average hourly earnings improved to 0.4% from 0.1%.

What Is Market Expected In September?

• US economy to add 800K more jobs.
• US unemployment rate to improve from 8.4% to 8.2%.
• Average hourly earnings to improve from 0.4% to 0.5%.

Data From Leading Indicator

1️⃣ Markit’s U.S. Flash PMI data reported a solid end to the third quarter, indicating that we did see job growth in both the manufacturing and services sectors.
2️⃣ ADP report inspired good vibes when private companies added 749,000 net jobs increase in September vs. an estimate of around 600,000 jobs.
3️⃣ The ISM Manufacturing PMI showed the US employment almost stable in September.

Xero Capital Markets Ltd. Review

Source: https://monsun.asia/2020/10/02/preview-nfp-report-september/
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