Gavekal Capital: US Employment Report Chart Update

Friday, December 5, 2014

US Employment Report Chart Update

Nonfarm payrolls came in well above expectations at 321K vs expectations of 230K for November. In addition, the previous two months were both upwardly revised by a total 44K jobs. Private nonfarm payrolls were up a very impressive 314K. This is the largest monthly gain since January 2012 and the third largest gain during this recovery. Average weekly hours of all employees ticked up to 34.6 hours, which is the highest level since May 2008. Real average hourly earnings on a 3-month annualized basis increased to 2.22%, which is the highest level since January 2013. The participation rate remained unchanged at 62.8%. Lots of charts below...


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