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US Reports Jobs as Ideas of BOJ and RBA Easing Next Week Fade
Friday, October 2, 2015 6:51
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marctomarket.com / by Marc Chandler / October 2, 2015
The monthly US employment report is the key to the remainder of the session. Market participants appear to generally accept several things about the report.
First that the August time series, as well as the September series is often subject to upward revisions from the first estimate.
Second, that barring significant surprise, those that expect the Fed to hike are largely concentrated in the December time-frame not October.
Third, that the unemployment rate of 5.1% is nearly identical to the level that prevailed when the Fed’s last tightening cycle began. The broader measure that includes those who take part-time work because they cannot find full time work was nearer 9.5% than August’s 10.3%.
Fourth, compelling evidence of reduced slack in the labor market comes from higher earnings. The market expects a 0.2% rise in average hourly earnings in September. This would match the average monthly increase in recent months, and lift the year-over-year rate to 2.4%, which would be the highest since August 2009.
The post US Reports Jobs as Ideas of BOJ and RBA Easing Next Week Fade appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/10/02/us-reports-jobs-as-ideas-of-boj-and-rba-easing-next-week-fade/
