Hey guys
Big news today for the us economy.
Todays Jobs data
Non-Farm Payrolls – 315k – pretty much in line with expectations and wasn’t too hot where we see people saying Powell needs to go harder, wasn’t too cold that we get recession talk.
Unemployment – A modest rise heading in the right direction (Up)
Participation rate – A decent rise and shows people are going back into the labour force
Average hourly earnings – No major signs of wage inflation and down from the previous month.
Overall it’s a decent report for the ‘’soft landing narrative’’ But still plenty of more work needed to prove inflation is actually coming down. I think these numbers put in a local low in the short term until more data is available. CPI data on the 13th. All 👀 there!!
As we saw earlier this summer the market moves with such news. The direction now is probably up