Strong Jobs Report to Begin 2020
U.S. hiring came in stronger than expected in January, rebounding from a disappointing December print.
Nonfarm payrolls rose by 225,000 in January, far surpassing Bloomberg’s consensus estimates for a 165,000 gain, according to the jobs report released today by the U.S. Bureau of Labor Statistics. This number may help alleviate some investor unease over December’s somewhat weak reading. We argued at the time that December’s reading likely was due in large part to calendar effects and the volatility of month-to-month changes. We prefer to base our views of the labor market’s vitality on the larger trend, wh
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