Macro Strategy Insights

NFP Instant Reaction – Simply Stunning!

A simply stunning jobs report! The highest estimate for the Establishment number was 300k and the report beat that high estimate quite handily, coming in at 353k! Not only that, but we broke a string of downward revisions by adding 126k in total to the past 2 reports, with the bulk of that revision for the December report! Back-to-back months over 300k is impressive and is maybe why confidence numbers have been so high? Simply a stunning number of jobs created (according to the Establishment survey). Even the Household survey was barely negative. Establishment shows 700k job gains in the ... NFP Instant Reaction – Simply Stunning!

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