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YOU'RE HIRED! US jobs report ROCKS with jobs added blowing away expectations

May 03, 2019

We Crunch the Numbers, You Make the Trade.We Crunch the Numbers, You Make the Trade.
We Crunch the Numbers, You Make the Trade.We Crunch the Numbers, You Make the Trade.

 

  • The April jobs report showed an addition of 263,000 new jobs, well ahead of the 190,000 consensus expectation
  • The unemployment rate fell to 3.6% from 3.8%
  • It was reported that Goldilocks is smiling, knowing lending her name to the present economy is very apt
  • Average hourly earnings grew at 3.2%, a touch below expectation though still a healthy rate
  • Revisons of the last two months added another 16,000 job addtions to totals
  • The US has averaged 205,000 job addtions per month so far in 2019, down from 233,000 per month in 2018

 

US Job Additions: Change in Non-farm Payrolls, 1 Year

us payrolls

Source: Bloomberg

 

  • Hiring was led by construction, healthcare and professional services; retail lost jobs for the third month in a row
  • The labor participation rate fell to 62.8% from 63%, indicating about 500,000 left the workforce
  • The strong data is solid but not so much so as to pressure inflation, which has been trending lower over the past months
  • With wages growing at 3.2% and consumer prices at 1.9%, workers are seeing real gains in their pocket

 

 

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