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- US payrolls provide a warm seasonal glow to optimists - Rabobank
US payrolls provide a warm seasonal glow to optimists - Rabobank
The Rabobank Research Team offers their afterthoughts on the US Employment and Consumer Sentiment data released last Friday.
“Friday’s US payrolls were strong, albeit boosted by the return of GM workers after a labor dispute. The 266K report and 41K two-month upwards revisions, 3.5% unemployment rate, and 3.1% y/y average earnings growth (albeit on a 1-tick miss in the m/m print at just 0.2%)--to say nothing of the stronger-than-expected Michigan sentiment and consumer credit surveys--all combined to provide a warm seasonal glow to optimists.”
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