US jobs data crushes expectations

US nonfarm payroll data is out, and the number is up 236,000 in February. That's way above the expectations of large American banks:

  • Morgan Stanley +135K
  • Barclays Capital +150K
  • Goldman Sachs +150K
  • Bank of America +160K
  • JPMorgan +165K
  • HSBC +179K
  • Deutsche Bank +180K
  • UBS +190K

Huge boon for the US. Unemployment is now at 7.7 per cent versus an expected 7.9 per cent, the lowest rate since December 2008.