Comments: A Solid Employment Report

My initial reaction was this was a "decent" employment report. However, with some further analysis, I think this should be characterized as a "solid" report. The unemployment rate declined to 4.9% even as the participation rate increased (a strong household survey). Sure the headline number was below the consensus forecast, but this follows several months of above trend job gains (job gains averaged 279 thousand over the previous three months). With current demographics, the unemployment rate would decline with job gains under 100 thousand, so 151 thousand is still solid. And another positive ......(read more)

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