The softer 143,000 gain in payrolls in January is nothing to be concerned about following the upward revisions to payrolls in November and December, which left the three-month average gain at a near-two year high of 237,000. That strength, together with a drop in the unemployment rate to 4.0% and a pick-up in earnings growth, provide support to our view that the Fed will remain on the sidelines this year.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.