April 5, 2019 Jobs Report: A Little Ying; A Little Yang by Lester Murray
It's the first Friday of the month, and that means a new Employment Report from the Bureau of Labor Statistics. The good news is that the 196k new Non-Farm Payroll jobs exceeded the expectation of about 180k. But, and there's always a "but", the Labor Force Participation Rate fell by two-tenths to 63%, and Average Hourly Earnings, up by 0.1% for the month, was supposed to grow by triple that. The biggest job-gaining sector was Education and Health Services with a pick-up of 70k. Retail Trade jobs declined by 12k and Manufacturing lost 6k. Market reaction is subdued, as it should be, with equities up a little and bonds up just enough to push the Ten-Year below 2.50%. Revisions to the prior two reporting months were not particularly significant.
Posted on Fri, April 5, 2019
by Lester Murray