- Published: 10 June 2013
- Written by Editor
1. Where the Jobs Are (Look North of the 49th)
- The nonfarm payroll numbers in the US were ok, but not great
- Canada’s numbers are fantastic, but watch the trends
Amongst industrialized economies, it’s no secret that the most closely watched economic indicator is the non-farm payroll data, released on the first Friday of each month in the US. Perhaps no metric is more anticipated and more dissected once it is released by the Department of Labor. Friday’s news of 175,000 new jobs came in slightly above the consensus estimate of 165,000 and sent the equity markets and oil higher and the precious metals markets soundly lower. This continues a 32 month run of gains in the job market. The thinking behind the market reaction was that 175,000 new jobs added is good news and a nascent sign that the US economy continues to recover slowly from the self-inflicted wounds during the Great Recession.
Written by Chris Berry, MBA - [ Discovery Investing Web Site ]