Participation rate 61.4% vs 61.4% expected (was 62.8% pre-pandemic)
Prior participation rate 61.4%
Underemployment rate 11.1% vs 11.1% prior
Average hourly earnings +0.2% m/m vs +0.2% expected
Average hourly earnings +5.3% y/y vs +5.3% expected
Average weekly hours 34.6 vs 34.9 expected
Two month net revision -159K
Change in private payrolls +465K vs +200K expected
Change in manufacturing payrolls +21K vs +15K expected
Good news is bad news with this report. US 10-year yields touched above last week’s high immediately afterwards and the dollar rose. That’s weighed on US equity futures.