Macro Strategy Insights

An Amazing Jobs Report, the Fed, and Rates

On first, second, and even third glance, an incredibly strong report. Headline jobs 162k! Last month’s -23k turned into +21k as part of 55k of upward revisions. The 3-month average is at 71k, well above what most economists consider the “replacement” rate (supposedly around 50k given lack of immigration and population growth). Private payrolls grew 127k this month and 71k last month (always great to see private sector jobs driving the report). Hourly earnings remained “stable” at just over 3%, which is good for workers and not bad for employers. Hours worked nudged higher, a further indication that the strength ... An Amazing Jobs Report, the Fed, and Rates

To access this report, please login.
If you don’t have an account, please reach out to your relationship manager or contact us at content@academysecurities.com