• Prior month 90.9K (was expecting 25.0 K). Revised to 179.1 K
• Employment change 76.0K vs 25.0 K estimate
• Unemployment rate 6.6% versus 6.8% estimate. Last month 6.7%
• Full time employment 35.2K vs 57.5K last month. Revised to 171.8K
• Part-time employment 40.9K vs 33.5 K last month. Revised to 7.1K
• Participaition rate 65.5% vs 65.1% last month.
• Average hourly wages were up 3.5% (+$1.23 to $35.99) on a year-over-year basis (not seasonally adjusted). This followed year-over-year growth of 4.0% in December.

Data is much stronger than expectations with revisions also much stronger

Other details:

Employment gains in January were led by

• manufacturing (+33,000; +1.8%)
• professional, scientific and technical services (+22,000; +1.1%).

The USDCAD was trading at 1.43215 ahead of the data release, and just above a swing area support between 1.4290 and 1.4304. Dow industrial average is down -19 points

This article was written by Greg Michalowski at www.forexlive.com.