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Nonfarm payrolls smash expectations, so why all the worry?

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May 02, 2014 288, 6.3%, americ, american, dollar, dollar comeback, economy, employment, equities, euro, finance, greenback, job market, jobs, macro, news, nfp, nfps, nonfarm, nonfarm payrolls, nonfarms, participation, payrolls, rate, saxo, saxo bank, saxo bank saxo tv, saxo bank trading floor, saxo bank tradingfloor.com, saxo traders, saxo tv, saxo tv saxo bank, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, saxobank, saxotv, states, stocks, strategy, surprise, tradingfloor.com, us, us jobless rate, us jobs, usa, usd, usdeur, video, worry
Friday's US jobless figure surprised many; the nonfarm payrolls showed that 288,000 jobs were created in the States in April. It marked the best month of job creation since January 2012. Revised figures also showed payrolls grew faster in February and March than previously estimated.
The jobless rate also shot down to 6.3% from 6.7%. However, Saxo Bank's Head of Macro Strategy, Mads Koefoed says this is entirely down to people leaving the job market and is not such great news. In fact, the participation rate is at its lowest since the mid 1970s. The US dollar initially rose against its major competitors.