TechFlow News, February 11: According to foreign media analysis and reporting, U.S. nonfarm payroll employment rose by 130,000 month-on-month in January—significantly exceeding market expectations. However, it is worth noting that part of this increase may stem from downward revisions to prior-year data: November and December nonfarm payrolls were collectively revised downward by 17,000. The U.S. unemployment rate unexpectedly fell to 4.3% in January. The unadjusted annual employment benchmark was revised downward by 862,000—a figure that also appears stronger than expected. Average hourly earnings rose 0.4% month-on-month, surpassing forecasts. Manufacturing jobs appear to have finally reversed their decline, adding 5,000 positions in January. Another positive factor is the labor force participation rate, which edged up from 62.4% to 62.5%. Across all metrics, the overall changes in nonfarm payroll data and the unemployment rate far exceeded expectations. Market reaction was immediate: the U.S. dollar strengthened, while yields on U.S. Treasury securities across all maturities weakened. (Jinshi Data)
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