kstinfo

kstinfo t1_j3765ci wrote

Key Points

Nonfarm payrolls increased by 223,000 for the month, above the Dow Jones estimate for 200,000.

Payrolls - read, people.

The unemployment rate fell to 3.5%, a decline of 0.2 percentage point and also better than the estimate.

Cool.

Wage growth was below expectations, with average hourly earnings up 4.6% from a year ago, below the 5% estimate.

More people working but for less.

Leisure and hospitality led job gains, followed by health care, construction and social assistance.

L&H - while everyone else is lagging behind the 'haves' still want to be catered to. Healthcare - need people to count their profits. Construction - materials may cost more but let's put one more breath into the bubble. Social Assistance - when the 'have nots' cannot be totally ignored.

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