THE BASIS POINT

July BLS Strong.

 

BLS Employment Situation Report (July 2016)

– Nonfarm Payrolls month/month 2  255,000. Previous was 292,000
– Unemployment Rate  4.9%. Previous was 4.9%
– Private Payrolls  month/month  217,000. Previous was 259,000
– Participation Rate  62.7%    62.8%. Previous was 62.7%
– Average Hourly Earnings month/month 0.1 %  0.3 % 0.2 % to 0.3 % +0.3%. Previous was +0.1%
– Average Workweek   34.5 hours. Previous was 34.4 hours

This data is good and, moreover, the jobs added unlike jobs added in 2015 were decent paying instead of restaurant workers.

A detailed analysis will be in my RateWatch newsletter of next Monday.

 

Trade Deficit (June 2016)

– Trade Deficit  $44.5 billion.  Previous was $41.0 billion.

Growth in exports was soft. Weakness in the economies of some E.U. nations will likely continue.

 

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