According to our analysis USDJPY and EURUSD moved around 74 pips on US Employment Situation (Non-farm payrolls / NFP) data on 5 January 2024.

USDJPY (50 pips)

EURUSD (24 pips)

Charts are exported from JForex (Dukascopy).

The December 2023 Employment Situation Summary, released by the U.S. Bureau of Labor Statistics, presents a comprehensive overview of the United States labor market for that month. Key points include:

  1. Nonfarm Payroll Employment Increase: There was an increase of 216,000 jobs, with notable growth in government, health care, social assistance, and construction sectors. However, there were job losses in transportation and warehousing.

  2. Stable Unemployment Rate: The unemployment rate remained constant at 3.7 percent.

  3. Unemployment Statistics by Group: Unemployment rates for various demographic groups, including adult men and women, teenagers, and different ethnic groups, showed little change.

  4. Long-term Unemployment: The count of long-term unemployed people (jobless for 27 weeks or more) stood at 1.2 million, making up 19.7 percent of all unemployed persons.

  5. Labor Force Participation: Both the labor force participation rate and the employment-population ratio saw a minor decrease of 0.3 percentage points.

  6. Part-Time and Marginal Employment: About 4.2 million individuals were employed part-time for economic reasons. There was a slight increase in the number of people not in the labor force who wanted a job, reaching 5.7 million.

  7. Sector-Specific Employment Trends: Increases in employment were observed in local and federal government, health care, and construction. On the other hand, transportation and warehousing sectors experienced a decline.

  8. Earnings and Work Hours: Average hourly earnings rose by 15 cents, with a year-over-year increase of 4.1 percent. The average workweek for all employees decreased slightly.

  9. Data Revisions: The report included downward revisions for job gains in October and November, with a combined reduction of 71,000 jobs from previous estimates.

Overall, the report indicates a continued increase in employment across several sectors with a stable unemployment rate, offering a detailed snapshot of the U.S. labor market as of December 2023.

Source: https://www.bls.gov/news.release/empsit.nr0.htm

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