Biggest beat relative to expectations (312K vs 184K) since 6/5/09, and 6th biggest beat relative to expectations since 1999.
Average Hourly Earnings 0.4%, Exp. 0.3%
Payrolls to print above 150 million for the first time.
Bloomberg economist Tim Mahedy: “This is the strongest employment report of this economic cycle — hands down.”
Jobs Blowout! 312,000 new jobs, +58,000 in net revisions, manufacturing +32,000, average hourly earnings +0.4% (3.2% YOY), labor force +163,000, participation rate 63.1%.
Hat tip Bespoke/Bloomberg/Brian Wesbury/Zerohedge.com