Revisions the key in NFP miss

|By:, SA News Editor

The headline payroll number is a miss of just 11K jobs, but the combined revisions downward for June and July sum to 74K positions.

Unemployment, however, declined to 7.3% thanks to a fall in the labor force participation to a 35-year low of 63.2% from 63.4%. The broader U-6 unemployment rate falls to 13.7% from 14% in July, 14.6% a year ago. The employment-to-population ratio slips to 58.6% from 58.7%.

Average workweek climbs 0.1 hour to 34.5 hours. Average hourly earnings climbs $0.05 to $24.05.

A look-in on gold finds the price rallying post-report, GLD +1.4%.

Gold ETFs: .GLD, IAU, SGOL, PHYS, AGOL, DGL, UBG, DGP, UGL, DZZ, GLL, DGZ, UGLD, DGLD, GLDI.