10 days ago • Posted by Ajmir Omid

US labor market remains very strong #jobs #fed #wages #trading

US jobs data for April are out, and US labour market remains quite strong; private payrolls increased by 406'000 (vs 390'000 consensus), average hourly earnings rose 0.3% mom (vs 0.4% estimated), and unemployment was unchanged at 3.6%. What was a bit surprising is the drop in the participation rate, going in the exact opposite direction the Fed want to see. Overall, the report is solid. Clearly, the job market is strong enough for the fed to keep the tightening path as outlined on Wednesday.