From the WSJ's Real Time Economics:
U.S. employers added 227,000 workers to payrolls in January,
the best monthly gain since September. The unemployment rate inched up
to 4.8%, partly reflecting more Americans entering the labor force,
while the pace of wage growth slowed. Here are reactions from economists
and analysts:
“The U.S. economy was able to create more jobs than expected, without a commensurate rise in wages, suggests that we’re further from ‘full employment’ than many bulls were hoping.” —Matt Weller, Faraday Research
“The nonfarm payrolls data showed a modest ‘Trump Jump’ in January, as businesses responded to a more positive economic outlook by creating 227,000 net new jobs.” —Tim Davis, Fathom Consulting
“An improved risk-taking environment as the economy performed better than anticipated over the past month
and expectations of regulatory rollbacks, possible tax cuts and a
fiscal boost via infrastructure over the next two years unleashed the
animal spirits in the economy that has been missing over past years.” —Joseph Brusuelas, RSM US
“This is just what the doves at the Fed wanted to see. All of the numbers point towards it being more difficult to justify another hike in March.” —James Athey, Aberdeen Asset Management
“Employment growth in this recovery has been centered on lower paying jobs
and, in this regard, the January jobs report didn’t disappoint. Some
50% of the increase was in temp jobs, retail, health care, and food
services.” —Steven Blitz, Pangea Market Advisory
“Mining and construction led the gains. That’s great news for blue-collar workers
who have struggled and are now under the political spotlight. But
mining and construction are two of the most cyclical industries, and
these gains will be hard to sustain. Manufacturing jobs increased
slightly but lagged the overall economy.”
—Jed Kolko, Indeed
“Even hourly earnings, which were expected to rise by 0.5%
month-on-month, increased by only 0.1%, pulling the year-over-year down
to 2.5%. This report will dampen expectations of a March rate hike.” —Steven Ricchiuto, Mizuho
...
MORE
