Due to the sharp selloff in US equities at the end of last week, the July jobs report didn't get as much attention as it normally does
Due to the sharp selloff in US equities at the end of last week, the July jobs report didn't get as much attention as it normally does. In truth, the results were not that meaningful as July numbers were mostly unexciting. Total employment increased by 209,000 - lower than expected. However, the annual trend remained healthy at over a 2% increase. Meanwhile, May and June employment figures were both revised higher. Unemployment climbed an insignificant amount to 6.2%. Overall, most of the key figures remained very similar to June. This same holds true for personal income, personal consumption, and wages, which were essentially unchanged from the prior month. Once again, the data look encouraging, both in regard to economic improvement and sustained lower rates from the Fed. (VIEW LINK) (VIEW LINK)
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