A few #payrolls takeaways:
1) Headline job gains +139k vs +126k exp--call it an in line print as prior months revisions took out -95K
2) "Feel" is gradual slowing but could go either way form here
2) Avg hrly earn touch warm at +0.4%, but 2-month avg consistent w/+0.3%
1/
1) Headline job gains +139k vs +126k exp--call it an in line print as prior months revisions took out -95K
2) "Feel" is gradual slowing but could go either way form here
2) Avg hrly earn touch warm at +0.4%, but 2-month avg consistent w/+0.3%
1/
4) Industry breakdown incl manuf contraction (-8K), construx flat (+4K) , retail/trade/transport flat (-3K); biggest upside was private ed & hlth (+87K not unusual)
5) HH survey had u-rate unch at 4.2% but -623K job losses losses and flows v. similar to recent months
2/
5) HH survey had u-rate unch at 4.2% but -623K job losses losses and flows v. similar to recent months
2/
Much as markets seem to be holding their breath post-ADP, there's really not much to see here. I guess we wait another month?
Fin
Fin
Aaaand I doubled up on "2"
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