Job growth was a modest 128,000. The unemployment rate ticked up to 3.6%. Revisions added 95,000. Initial Reaction The core reading was a bit better than expected. The Econoday consensus was 90,000 in a range of 50,000 to 155,000.Manufacturing lost 36,000 jobs vs a consensus of 50,000.Job revisions were positive.Hourly earnings were weak.
The Holiday Season is right around the corner. Are retailers ready? With unemployment rates at the lowest they have been since 1969, one would think that retailers are fully staffed and ready to roll with the holiday season. However, retailers have lost 11,400 jobs since August. Since January 2017, retailers have lost 197,000 jobs according … Continue reading Black Friday is 50 Days Away
Nonfarm payroll increased by 75,000 in May (263,000 reported, actual revised 153,000)Unemployment steady at 3.6%Employment continued to trend up in professional and business services and in health care. Number of unemployed persons little changed at 5.9 million(5.8 million) **April numbers in parentheses Consensus estimate according to fxstreet.com was 185,000 increase, so far less than forecast. … Continue reading May Jobs Report
Nonfarm payroll increased by 263,000 in AprilUnemployment rate declined to 3.6%Notable job gains occurred in professional and business services, construction, health care, and social assistance. Number of unemployed persons decreased by 387,000 to 5.8 million Consensus estimate according to fxstreet.com was 185,000 increase, so actual topped estimate significantly. Unemployment rate dropping was also not estimated, … Continue reading Jobs Report 5/3/2019
Nonfarm payroll increased by 196,000 in MarchUnemployment rate unchanged at 3.8%Notable job gains occurred in health care and in professional and technical servicesNumber of unemployed persons essentially unchanged at 6.2 million Consensus estimate according to fxstreet.com was 180,000 increase, so actual topped estimate by 10%. Wages were also slightly down but back to normal. February's … Continue reading Jobs Report