Non-farm Payrolls Falls -84K, Unemployment Rate Hits 5 Year High, Revisions Are Ugly!

Date September 5, 2008

There is no question that the US labor market is deteriorating. Non-farm payrolls fell by -84k last month, driving the unemployment rate to a 5 yeer high of 6.1 percent. However what made FX traders really sell the dollar was the jump in the unemployment rate and the revisions. The US government [...]