Economy: Resilient Jobs Report

August 5, 2022, 1:14 pm EDT

Resilient Jobs Report

A surprisingly strong July non-farm payroll shows that the US economy is more resilient than expected. 

  • Payrolls increased 528K which surpassed the estimated 258K in a wide margin
  • Unemployment rate 3.5% is another 40+ years low level

Although the rate hike will continue in September, a strong job market could gradually smooth out the decline in other economic activities like housing or retail sales. The key factor is to observe whether there is a big drop or mild slowdown in the job market. This is number one of the most influential data to drive the direction of the stock markets. 

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