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VTI - January Jobs Jolt: Employment Gain Best In A Year
Vanguard Total Stock Market
2024-02-02 09:50:12 ET
Summary
The January jobs report exceeds expectations with a massive 353,000 nonfarm payrolls gain.
Average hourly earnings and year-on-year wage increase are higher than anticipated.
US 10-year Treasury note yield rises, reducing the likelihood of a March Fed rate cut.
The January jobs report revealed a massive 353,000 nonfarm payrolls gain. Expectations were for just a 185,000 add. It was the biggest monthly employment advance since January 2023 while the unemployment rate remained at 3.7%, just 0.3ppt off the multi-decade low....