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You're hired. Welcome words for 271,000 more Americans last month. The larger US payroll brings the unemployment rate in the US down to 5%, the lowest in seven years. The positive numbers increased the likelihood that the US central bank - the Federal Reserve - will raise interest rates from their current all-time low at their meeting next month. Despite the marked improvement in the jobs picture, the number of people in work is still well below what it was before the financial crisis. Carl Weinberg is the chief economist at High Frequency Economics in New York and I asked him just how much of a surprise today's numbers were.
The increase in payrolls at 271,000 was half again bigger than what the market was looking for. There were revisions also to the data. The drop in the unemployment rate matched expectations. But the payroll number is really the critical one. It brings this very well-watched indicator in line with other less well-watched but important indicators like initial claims and the ISM employment components to complete a picture that it very strongly supports the case for a Fed tightening in December. | 
发表于 2016-11-15 22:40:42