Despite the solid November nonfarm payroll report, the “doves” of the Federal Open Market Committee are likely to “shake it off” because policy makers tend to always remind investors one report doesn’t make a trend, said Carl Riccadona, an economist at Bloomberg. However, it’s bit of a new norm in November for the labor market because if the economy is …
One Man’s Opinion: Will The Economy See Stronger Wage Pressures Going Forward?
The latest non-farm payrolls report showed the US added 248,000 jobs in September. Yet the lack of wage inflation has been a real puzzle and the only missing-piece in the jobs report, said Alan Krueger, a Princeton University economics professor and former chairman of the White House Council of Economic Advisers. The economy is likely to witness higher wage growth …
One Man’s Opinion: Will The Fed Change Its Course After The Latest Nonfarm Payroll Report?
The July payroll report showed the economy added 209,000 jobs for the month. A number that close to economists’ forecast of a 230,000 jobs gain indicates it is in-line with expectations and the street shouldn’t really be disappointed, particularly as job gains for May were revised upwards to 298,000. However, the lack of growth in the average earnings-hour is a …
Bulls Fight Off Bears To Shed The Red
[Chart courtesy of MarketWatch.com] U.S. equities shed earlier losses and closed the trading session in positive territory, allowing stocks to snap their recent two-day losing streak and avoid giving the Dow its first three-session decline of the year. The Dow Jones Industrial Average added 80 points (0.5%) to 15,041, the S&P 500 Index moved 14 points (0.8%) higher to 1,622, …