The US Bureau of Labour statistics announced non-farm payrolls growth of 1.8m in July, beating consensus expectations for 1.6m, although it suggests a slowing labour market recovery following June’s gain of 4.8m. Markets took the news with mild positivity with S&P 500 e-mini futures moving higher by about 20bps, while yields on US 10 year
The latest jobless claims figures from the Department of Labour shows initial claims filed during the week ending 1st August declined to 1,186,000, beating consensus expectations for 1,432,000. S&P 500 and Nasdaq futures creeped higher on the news, erasing their pre-market losses, while the yield on the US 10-year treasury ticked higher by about 1bp.
According to the latest data from ADP, one of the US’ largest private payrolls processors, private sector employment increased by a meagre 167,000 in July. Consensus expectations were for a much larger 1.5m in jobs growth, so today’s data will undoubtedly cause concern to investors and policymakers that the labour market recovery has stalled. The
Economists and analysts had been expecting this week’s initial jobless claims figure to remain the same as last week’s 1.3m, however, today’s jump to 1,416,000 missed by a wide margin. The initial claims data adds to pressure on legislators to pass a new stimulus package ahead of the summer recess, so as to ensure the
The Federal Reserve’s beige book (a report published eight times a year providing commentary on current and future economic conditions based on survey responses from key business contacts, economists, market experts, and other sources) set the tone for this week’s positive economic data out of the US. The report found activity had increased in each
Today, the US Bureau of Labour Statistics’s data showed that 4.8m Americans found work in the month to 12 June, whilst last month’s release was revised upwards to 2.7m from 2.5m. The report significantly cleared consensus expectations of jobs growth of 3m and caused European stock bourses to surge almost 1% higher in reaction to
Figures out of the US bureau of labour statistics showed a surprise rise in employment of 2.5m versus market expectations for an 8m decline. The S&P 500 opened 1.66% higher as a result of this shockingly good news and, at the time of writing, is set to close almost 3% higher. The market reaction across