WMT - Takeaways From The January Blowout Jobs Report
2024-02-02 10:35:42 ET
Summary
- Non-farm payrolls report shows a rise of 353,000 jobs in January, justifying the Federal Reserve's hawkish tone.
- Jobs increased in professional and business services, healthcare, retail trade, and social assistance, while employment fell in mining and energy sectors: implications on stocks discussed.
- The strong job market will weigh heavily on the Federal Reserve's monetary policy (interest rate cutting) in the coming months.
The release of the non-farm payrolls report from the Bureau of Labor Statistics will justify the Federal Reserve's hawkish tone earlier this week. Total NFP employment rose by 353,000 in January. The unemployment rate did not change at 3.7%, compared to expectations of a rise to 3.8%....
Takeaways From The January Blowout Jobs Report