Analysts at Nomura offered their key takeaways from the previous Week.
Payrolls grow strongly in January but wage pressure appears weak Nonfarm payrolls increased strongly by 227k in January, slightly higher than expected (Nomura: 205k, Consensus: 180k). Private payrolls added 237k jobs, above expectations (Nomura: 200k, Consensus: 175k), implying that government payrolls declined by 10k. The strength in new jobs was broad-based, but there were signs of a labor market still on the mend. The unemployment rate increased slightly to 4.8% (4.780%) from 4.7% (4.716%).
The labor force participation rate (LFPR) increased modestly by 0.2pp to 62.9% and likely contributed to the increase in the unemployment rate. It is likely that more workers joined the job market encouraged by better job prospects. To this end, the pick-up in the unemployment rate should not be considered as a signal of deterioration in labor markets.
Policy Watch – February FOMC Recap By unanimous vote, the FOMC voted to keep the target range for the federal funds rate at 0.5 – 0.75%. Most striking about today’s statement was the similarity to the December statement: the language on risk and reinvestment policy did not change by a single word. There were some modest changes to the economic conditions and economic outlook paragraphs.”
You may be interested
Opinion | What is a Security Token Offering (STO) and Why You Need an AdvisorBrian Evans - Oct 08, 2018
About the Author: Jaron Lukasiewicz is the CEO and founder of Influential Capital. Jaron has been an executive in the industry since 2012, previously serving as CEO of Coinsetter, one…
World Economic Forum: Blockchains improve Global EconomyBrian Evans - Oct 08, 2018
Beginning as a technology for financial ledgers only, blockchains have grown to become the corporate hype word around the globe. It’s touted as the invention that will…
‘Rehypothecation’: More about the Wall Street Practice that Could Ruin BitcoinBrian Evans - Oct 08, 2018
Note: This is part 4 in a multi-part article series exploring rehypothecation and commingling in bitcoin and other cryptocurrency markets. Part 1 and part 2 are interviews…