I'm seeing a lot of downplaying of the surprise jobs gain in April's non-farm payrolls report in the US

Jay Soloff

Argonath Financial

I'm seeing a lot of downplaying of the surprise jobs gain in April's non-farm payrolls report in the US. Yes, the drop in unemployment rate to 6.3% is due more to the decrease in labor participation than to greater levels of hiring. However, the 288,000 increase in private payrolls is the biggest in 2 years and well over the 213,000 consensus forecast. While the large number is partially due to a rebound in hiring after the harsh winter, the number was still much higher than expected. After all, job growth has only averaged 190,000 over the last 12 months. Moreover, the gains in employment growth are across the board - the growth isn't confined to one area or sector. Basically, I wouldn't write off this positive surprise just yet. We'll need to see more data, but this is certainly encouraging for the US. (VIEW LINK)


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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...

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