Independent Strategy

USMacro Data – US June Non-farm Payrolls

Strong payroll gains with some additional impetus from upward revisions.  Overall the economy added 850k jobs in June (mkt 700k) up from 583k in May (revised from 559k), of which 662k came from private payrolls (mkt 600k).  Manufacturing added 28k jobs and government 188k.  Labour participation unchanged at 61.6% and the unemployment rate actually ticked up to 5.9%, as job gains were netted off with an increase in the labour force.  Note prime age participation (25-54) increased for both male and female workers.  This is positive and should dampen worries about labour scarcity.

Tags

ADP (7) Agriculturals (1) Asia crisis (1) Asset Allocation (1) Australia (2) Autos (1) Bank of Japan (1) Big Data (1) BoJ (1) Bonds (6) Brazil (1) Brexit (5) Canada (1) Capital Goods (2) Central Bank (8) Challenger (1) China (19) Claims (1) Climate change (2) Commodities (1) Copper (1) Coronavirus (4) Corporate Bonds (1) Corporate Debt (2) Covid (2) Covid-19 (45) CPI (8) Credit (43) Current Account (1) Debt (2) Debt Crisis (4) Democracy (4) Demographics (9) Deposits (1) Disruptive Technologies (4) Durable Goods (1) Earnings (1) ECB (10) Elections (2) Emerging Markets (4) Employment (16) Equities (1) Euro (3) Eurogroup (1) Europe (2) Eurozone (19) Exports (2) Factory Orders (6) Federal Reserve (8) Fixed Income (2) France (1) FX (2) GDP (12) Germany (15) Globalisation (8) Global Pandemic (3) Gold (2) Google Mobility (36) HICP (1) Hong Kong (1) Housing (5) IFO (3) Income (1) India (1) Industrial Production (9) Inflation (24) Interest Rates (11) Internet (1) Investment (5) IP (9) Iran (4) Ireland (1) ISM (2) Italy (6) Japan (5) Jobless Claims (1) Korea (3) Labour Market (11) Liquidity (8) Manufacturing (3) Monetary Policy (19) Money (4) Money Market (1) Money Supply (17) Myanmar (1) New Monetarism (6) New Zealand (1) Oil (6) Online (1) Payrolls (17) PCE (2) PMI (1) PMIs (1) Politics (10) Populism (6) Portugal (1) PPI (4) Production (1) Productivity (2) Profits (1) QE (5) Quantum economics (4) Real Estate (1) Redline Money (15) Reserves (3) Retail Sales (11) Russia (2) Services (3) Services PMI (1) Sovereign Bonds (2) Sovereign Debt (4) Spain (4) Sterling (1) Sweden (2) Technials (1) Technicals (97) TICS (1) Total Social Financing (11) Trade (10) TSF (4) Turkey (1) UK (18) Ukraine (1) Unemployment (15) US (35) USD (9) Vietnam (1) Wages (17)

In the Media