ACTV - February Jobs Report Review: Welcome To The Soft Landing Kids
2024-03-08 12:35:45 ET
Summary
- February jobs report exceeded expectations with 275,000 jobs gained, showing a strong labor market.
- The unemployment rate ticked up to 3.9%, but wage gains slowed, reducing pressure on the Fed to hold off rate cuts.
- The report solidifies the notion of a soft landing in the US economy, increasing the likelihood of a Fed rate cut in June.
The February jobs report came in ahead of expectations. The number of jobs gained exceeded consensus expectations significantly, the headline unemployment rate ticked up from 3.7%, where it had been stuck the last three months, to 3.9%. Overall, this was a very strong jobs report that exceeded expectations and showed that an employment driven recession is unlikely in the near future. In other words, the fabled soft landing is likely occurring despite a constant chorus of pessimistic and histrionic analysis that might lead you to believe otherwise. This discrepancy is an opportunity for alpha....
February Jobs Report Review: Welcome To The Soft Landing, Kids