The Labor Department’s employment report showed nonfarm payrolls increased by 517,000 jobs last month. Data for December was revised up to reflect 260,000 jobs added, instead of the 223,000 previously reported.
Average hourly earnings rose 0.3%, after rising 0.4% in December. This reduced the year-on-year increase in wages to 4.4% from 4.8% in December. Economists polled by Reuters expected an increase of 185,000 jobs and a year-on-year rise in wages of 4.3%.
That’s a “monstrous number,” said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York.
The euro fell 0.98% to $1.08040. The dollar gained 1.82% against the Japanese yen to 131.20 units, the highest since January 18 and its best session since June 17.
Sterling fell 1.39% to $1.20550, its lowest level since January 6.
Source: Ambito
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