vrijdag 4 augustus 2017

Payrolls Beat: 209K Jobs Added In July, Solid Wage Growth

And now the dovish Fed has another problem: the BLS reports that in July the US added 209K jobs, beating consensus expectations of a 180K print, while June was revised higher to 231K from 222K, even as May was revised modestly lower from 152K to 138K...



Nonfarm private payrolls rose 205k vs last month's 194k, and above the estimate of 180k, as the drop from durable manufacturing failed to materialize. Adding to the hawkish pressure, wages rebounded from last month's 0.2%, rising 0.3% M/M, and 2.5% on a Y/Y basis, above the 2.4% expected, and once again putting wage inflation back on the map. The unemployment rate dropped from 4.4% to 4.3% as expected, while the participation rate rose from 62.8% to 62.9%....