In explaining one of the major strengths of the Red Army, Joseph Stalin once stated that Quantity has a Quality all its own It's a quote that came to mind in...

In explaining one of the major strengths of the Red Army, Joseph Stalin once stated that Quantity has a Quality all its own It's a quote that came to mind in analysing Wall Streets reaction to the undoubtedly impressive headline result in last weeks Non-Farm Payroll report, which showed that the US added 288,000 jobs in June, smashing market expectations, and causing the US unemployment rate to drop to just 6.1%. On a side note, U-6 barely moved, and is still sitting at 12.4% But under the hood - things still aren't quite so rosy, with non-existent wage growth (in real terms), and a huge shift from middle to lower income paying jobs Its a good sign that the US economy is winning the 'quantity' battle - but quality of jobs is still a major issue, and until/if won, don't expect much stronger GDP growth. Full report here (including 3 great charts) (VIEW LINK)