Huge beat today in the US with June non-farm payrolls coming in well above expectations
Jay Soloff
Argonath Financial
Huge beat today in the US with June non-farm payrolls coming in well above expectations. Employment increased by 288,000 last month, substantially higher than the consensus forecast of 210,000. Meanwhile, the unemployment rate dropped to 6.1%. Job gains came from a variety of sources including business services, retail, food services, and health care. The annual rise is employment gains hit 2.13%, the highest level in seven months. The very strong report combined with another upbeat jobless claims report is clearly good news for the US economy. Does that make it more likely an interest rate increase will come sooner? I doubt it. We still need to see wage growth for the Fed to be concerned. Overall, the jobs report can really only be viewed as a good sign. (VIEW LINK)
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I'm an investments analyst for a US-based independent investment research firm. My focus is on economics, options, and all types of stocks, but especially tech, Internet, and renewable energy companies. I have experience as a options market maker on the floor of the CBOE, as a consultant on Wall Street, and as a senior analyst at a multi-strategy hedge fund. You can visit my website at www.argonathfinancial.com.
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Jay Soloff
Research Analyst
Argonath Financial
I'm an investments analyst for a US-based independent investment research firm. My focus is on economics, options, and all types of stocks, but especially tech, Internet, and renewable energy companies. I have experience as a options market...
Expertise
No areas of expertise
Jay Soloff
Research Analyst
Argonath Financial
I'm an investments analyst for a US-based independent investment research firm. My focus is on economics, options, and all types of stocks, but especially tech, Internet, and renewable energy companies. I have experience as a options market...
Expertise
No areas of expertise
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