Nonfarm Payrolls (NFP) in the US declined by 701,000 in March, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed February’s increase of 275,000 (revised from 273,000) and missed the market expectation of -100,000 by a wide margin.
Further details of the publication revealed that the Unemployment Rate in March surged to 4.4% from 3.5% and came in worse than analysts’ estimate of 3.8%. Moreover, the Labor Force Participation Rate in March fell to 62.7% from 63.4% and the Average Hourly Earnings increased by 0.4%.
Follow our live coverage of the NFP report and the market reaction.
Market reaction
With the initial market reaction, the US Dollar Index, which tracks the greenback’s performance against a basket of six major currencies, advanced to 100.80, where it was up 0.68% on a daily basis.
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