The Bureau of Labor Statistics released this Friday (6) the jobs report, the payroll, and showed the creation of 336 thousand non-agricultural jobs in September, above market estimates, which were around 170 thousand. Furthermore, the unemployment rate was 3.8%, above the investor consensus of stability at 3.7% in the period.
In September, the average hourly wage for all employees on nonfarm private payrolls increased by 7 cents, or 0.2 percent, to $33.88. Over the past 12 months, average hourly wages have increased by 4.2 percent. In September, the average hourly earnings of private sector production and non-supervisory employees increased 6 cents, or 0.2%, to $29.06.
Interest rates rise to close to 16-year highs with stronger-than-expected payroll
Projected interest rates on United States Treasury bonds rise this Friday morning, after the stronger-than-expected payroll release. 336 thousand new jobs were created, compared to 170 thousand predicted by analysts.
The 10-year Treasury yield rose nearly 13 pp to 4.839%. It had hit a new 16-year high earlier in the week, rising to 4.884%. The 2-year Treasury yield last traded at 5.14% after rising more than 11 pp.