US Jobs and Wages Outlook With Unemployment Lowest in 49 Years

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  • #20880
    TradersCom
    Keymaster

    The US Labor Department May jobs report Friday…

    [article]1548[/article]

    #20882
    TradersCom
    Keymaster

    US nonfarm productivity for 1Q (Final) 3.4% v 3.5% estimate

    The final revision for US nonfarm productivity and Unit labor costs
    US nonfarm productivity for 1Q final 3.4% versus 3.5% estimate. The preliminary estimate was 3.6%

    Unit labor costs -1.6% versus -0.9% estimate. The prior estimates was -0.9%. Clearly labor is cheap in America despite unemployment at 49 Year lows

    Labour Costs in the United States averaged 60 Index Points from 1950 until 2019, reaching an all time high of 109.61 Index Points in the first quarter of 2018 and a record low of 17 Index Points in the first quarter of 1950.

    #20885
    TradersCom
    Keymaster

    Dallas Fed’s President Kaplan speaking in Boston

    US has a very tight labor force
    trade tensions have heightened
    trade relationship with Mexico supports US jobs
    downside risks right now is to business confidence and capital expenditures but could start to affect hiring and therefore household spending

    He is not a voting member in 2019.

    #20893
    Helmholtz Watson
    Participant

    Goldman Sachs #JobsReport Preview

    NFP+195k.
    Employment surveys remain at healthy levels
    Payroll survey period before recent trade war escalation
    unemployment rate at 3.6%
    +0.2% m/m average hourly earnings, 3.1% y/y

    #20913
    ClemSnide
    Participant

    [quote=”Helmholtz Watson” post=10706]Goldman Sachs #JobsReport Preview

    NFP+195k.
    Employment surveys remain at healthy levels
    Payroll survey period before recent trade war escalation
    unemployment rate at 3.6%
    +0.2% m/m average hourly earnings, 3.1% y/y[/quote]

    Goldman up to their usual – amazed they are given so much credit on TV finance shows etc

    #20961
    TradersCom
    Keymaster

    [color=red][size=5][b]US initial jobless claims 222K v 215K estimate prior revised to 219K v 218K
    [/b][/size][/color]

    Jobless claims for the week of June 8, 2019

    four-week average rose to 217.75K versus 215.25K
    continuing claims 1695K versus 1660K estimate, prior revised to 1693K vs 1682K

    The largest increases in initial claims for the week ending June 1 were in Pennsylvania (+2,128), Tennessee (+888), Illinois (+885), Arkansas (+611), and Ohio (+493),

    The largest decreases were in Michigan (-4,291), California (-3,494), New Jersey (-1,698), Massachusetts (-1,632), and Texas (-1,582).

    Charts via Antonio Pérez Algás @apanalis

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