Here is what the target residents make mistake

this The salary statements grew by only 73,000 last monthMuch less than expectations for about 100,000. At the same time, the May balance has been revised from 144,000 to 19,000, and the June total of 147,000 to 14,000 has been reduced, which means that the average profit during the past three months is now only 35,000.

While Yardini, President of Yardini, admitted to research, in the Monday memo that the report was a shock, he maintained that the labor market was still flexible.

“It is difficult to put a positive spinning on this news, but not for us!” books.

Yardeni referred to strong increases in the total working hours and the average work week in the private sector. In addition, private industry wages also witnessed health developments and set record levels.

Meanwhile, some slowdown in salary lists attributed to the shrinkage of workers instead of the demand for workers.

The workforce has stopped growing in recent months amid Trump’s immigration campaign. At the same time, I followed the standards of labor demand closely this presentation so far this year, an unusual phenomenon, as Yardini explained.

He added: “This means that the weak gains in salary statements in recent months may be related to the supply of employment.” “The demand for work may be temporarily weakened by employers who adhered to employment until Trump’s identification disorders.”

On the contrary, JPMorgan economists have interpreted job data as an indication of The weakest demand For workers.

In a memorandum on Friday evening, they reduced the increases in wages and the average work rates, noting that employment in the private sector has slowed to only 52,000 in the past three months, with the stagnation of the sectors outside health and education.

Jpmorgan added: “We have constantly emphasized that the slide in the demand for employment of this size is a warning signal.” “Companies usually maintain employment gains through the growth processes that they consider transient. In the episodes where the demand for employment is sliding with low growth, it is often like a provision for a reduction.”

The memorandum also warned that the depressed growth growth is unlikely to maintain income gains.

Bank of America On Monday, she said on Monday that the shock of the demand for employment should lead to a slowdown in the growth of wages and working hours. This did not happen. Although it is not clear that the demand deteriorates faster than the offer, Bofa said that job data seems to be more than the trauma of the request so far.

At the present time, although employment has been sharply cooled, there is no sign of collective demobilization yet, and the unemployment rate has almost changed, as it has increased in a narrow range ranging between 4 % and 4.2 % for more than a year.

The economy is still seen as holding. the Tracking GDP in Atlanta Fair It indicates continued growth, although it is expected to be given to 2.1 % in the third quarter of 3 % in the second quarter.

The supply question for the demand for the key to how the Federal Reserve responds, or not, to job data. Looking at the Grand Gathering on Monday in the stock market and the continued decrease in treasury revenues, Wall Street is betting on interest rate discounts soon.

Jpmorgan said that creating job opportunities is no longer strong, and that when it is combined with the increasing opposite winds of the Trump’s trade war, the recent data indicates the Federal Reserve approaching reduction rates.

Meanwhile, Bofa has supported expectations that the Federal Reserve will not reduce prices this year, and Yardeni has similarly affirmed its view of the scenario “Nothing”.

He added: “This is because we expect that the next batch of inflation indicators will show that the customs tariff enhances consumer price inflation, especially for strong goods.” “We also expect to see more signs of life in the labor market.”