ILCB - Jobs Numbers Interest Rates And Tech Stocks
- A big GDP number, rebounding consumer confidence and the first signs of an uptick in inflation - all pointing to a recovery - had some economists positive ahead of the monthly jobs report published by the Bureau of Labor Statistics on Friday morning.
- However, the actual number of payroll gains was 266,000, not anything bumping up on the expected million or more. The unemployment rate, which was supposed to decline by a couple ticks to 5.8 percent, instead notched up slightly to 6.1 percent.
- The April report most likely is an outlier. All indications, the numbers notwithstanding, are that the labor market is fairly robust.
- If there is any problem, it would seem to be that in many sectors employers are finding it hard to fill positions. It may take several months for supply and demand to work themselves out.
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Jobs Numbers, Interest Rates And Tech Stocks