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Nonfarm Payrolls Drop in August

September 7, 2007 (Last updated on December 1, 2009) by

EUR/USD spiked high almost reaching 1.3800 level as the U.S. nonfarm payrolls for the August decreased by 4,000. Nonfarm payrolls is one of the most important measures for the employment market of the United States, which in its turn serves as the indicator of the economy health. A fall by 4k is the lowest monthly value since 2003. This is certainly a bad sign for the overall U.S. economy, which will be (and already was) treated by the financial markets not in the favor of U.S. stocks or USD. Other macroeconomical data became available today too.

Average hourly earning in August grew at the same rate as in July — by 0.3%. Overall unemployment rate remained at 4.6%. All data came out without surprise — at the expected levels.

Business wholesale inventories in July increased by 0.2%, while in June they grew by 0.5% and analysts expected the same growth in July.

One Response to “Nonfarm Payrolls Drop in August”

  1. Trainee

    Excellent fundamental resources you have here on your blog. It seems everyone these days has jumped on the Technical Analysis bandwagon. I look froward to read your future posts. You can check out my blog on Fundamental Forex Trading


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