Financial Review

June Jobs Report


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287,000 new jobs in June. Unemployment rate up to 4.9%. Smoothing out the numbers. Wages inch higher. The impact of minimum wage. The need for job training. Financial Review by Sinclair Noe for 07-08-2016   DOW + 250 = 18,146 SPX + 32 = 2129 NAS + 79 = 4956 10 Y – .02 = 1.37% OIL + .05 = 45.19 GOLD + 4.80 = 1365.60 *S&P just shy of intraday and closing record highs, going back to May 2015.   The Jobs Report for June showed the economy added 287,000 new jobs, and the unemployment rate rose to 4.9% in June from 4.7% as more people entered the labor force in search of work. The results topped consensus estimates around 175,000. June payrolls were boosted by the return of 35,000 striking workers at Verizon. The May report was revised from 38,000 down to 11,000. April’s gain was revised higher to 144,000 from 123,000. April and May revisions resulted in a net loss of 6,000 jobs compared to initial estimates.   Goldman analysts blamed the month to month discrepancy on weather, saying that during April and May, industries most affected by weather barely hired. Construction, leisure and hospitality and retail, added just 4,000 jobs compared to 113,000 in October through March. Construction hiring was again low in June.   Another consideration is seasonal adjustments based on the school year. In May, we saw a decline in the unemployment rate and a drop in labor-force participation. The change suggested that unemployment was falling for ...
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Financial ReviewBy Sinclair Noe