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JMIA - We Dodged The Bullet People. Job Numbers Came Through. In Spite Of My Bullish Stance I Can't Shake Off A Sense Of Caution
Jumia Technologies AG American Depositary Shares each representing two
The headline employment number looks disappointing at 136K on the headline, under 145K we expected
The good news is the prior two months were revised up by 57K. Unemployment rate was 3.5%, the lowest since 1969.
August was 130K; now revised up to 168K. July was 159; now 166K. It is these revisions that underpin the market this morning. I suspect that this number will be revised upward too in the coming weeks. This month, 117K people came into the workforce. Labor participation rate continues its uptrend at 63.2%. Just to put a finer point