9 May 2016
US: Robust nature of the jobs report suggests recovery remains on track - Investec
Research Team at Investec, notes that the last week the US jobs report was a little disappointing, with the headline Non-Farm Payroll number a miss on expectations.
Key Quotes
“Although sub-200k jobs were created, the robust nature of the jobs report over the last six months should be enough to keep confidence with the Federal Reserve that the recovery remains on track.
NY Fed President Dudley has said that he wouldn’t put a lot of weight on jobs data in affecting his view of the economic outlook. Some analysts and investors though are unsure, after a soft Q1 GDP reading, and some weak activity data, markets had fully priced out the chances of a June US Interest rate hike after the release on Friday afternoon.”
Key Quotes
“Although sub-200k jobs were created, the robust nature of the jobs report over the last six months should be enough to keep confidence with the Federal Reserve that the recovery remains on track.
NY Fed President Dudley has said that he wouldn’t put a lot of weight on jobs data in affecting his view of the economic outlook. Some analysts and investors though are unsure, after a soft Q1 GDP reading, and some weak activity data, markets had fully priced out the chances of a June US Interest rate hike after the release on Friday afternoon.”