oc-conservative_IHB
New member
<p>Summary of today's jobs numbers:</p>
<p>-4k non-farm payrolls vs consensus of +110k</p>
<p>June & July were revised down by a combined 81k</p>
<p>first negative reading since Aug 2003 and biggest factory firing since July 2003</p>
<p>flat payroll growth still correlates with 2% real GDP growth</p>
unemployment rate and Average Work/Week were in line with expectations at 4.6% and +0.3%
<p>Still, despite some "non-negatives", this is the green light for the Fed to cut rates by 50 basis points. Data is showing the need for a shot of adrenaline in addition to the discount rate cut last month.</p>
<p>-4k non-farm payrolls vs consensus of +110k</p>
<p>June & July were revised down by a combined 81k</p>
<p>first negative reading since Aug 2003 and biggest factory firing since July 2003</p>
<p>flat payroll growth still correlates with 2% real GDP growth</p>
unemployment rate and Average Work/Week were in line with expectations at 4.6% and +0.3%
<p>Still, despite some "non-negatives", this is the green light for the Fed to cut rates by 50 basis points. Data is showing the need for a shot of adrenaline in addition to the discount rate cut last month.</p>