Under The Hood Of A Bad Jobs Report

Under The Hood Of A Bad Jobs Report

If nothing else, the January jobs report was poised to amplify calls for additional virus relief and more fiscal stimulus. Market participants spent a good part of the week discussing what some hoped would be a big upside surprise on payrolls. The hype proved misguided. The discrepancy with ADP (which showed private employers adding 174,000 jobs in January) was rather glaring. Once you net everything out, almost all of the gains from the NFP report were attributable to government hiring. As n
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3 thoughts on “Under The Hood Of A Bad Jobs Report

  1. Under the hood of the market today, appears leaning towards reflation. Fiscal side needs to come through and we are getting closer.
    I wonder if the Chinese will time tightening around our stimulus.

  2. “If leisure and hospitality can’t recover, neither can the economy.”

    Agree completely both for the US and the World: I gotta believe the leisure and hospitality industries will take, at the very very least, more that two more years to recover, although it will certainly recover in stages…

  3. I expect that once we’re three fourths of the way to herd immunity, there will be a boom with a rapidity akin to the bust. Once you have a vaccine and restaurants let you eat without a mask, would you eat out more or less often than before?

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