JOBS REPORT: 216K NEW JOBS, UNEMPLOYMENT FALLS TO 8.8%

The number:

218K is better than expectations, though not wildly so.

The unemployment rate did improve to 8.8%.

Private sector jobs nicely beat expectations with 230K.

Stocks are heading higher on the news.

Wages were down slightly.

U-6 down to 15.7%.

The full announcement is here.

Background: Here it is! No introduction needed!

The simple summary is this. Analysts are looking for around 185K new jobs, 203K+ new private sector jobs, and a headline unemployment rate of 8.8%.

Read more background here and here.

Markets are nicely higher on the news.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.