June nonfarm growth easily surpassed analysts’ expectations, increasing by 222K jobs on the month.
For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on July 7.
- As long as the U.S. economy can continue to put up job numbers like this, the FOMC will remain on its rate-hike and balance-sheet-reduction schedules this year.
- Our forecast on Fed monetary policy going forward is unchanged, given this new labor market information.
- If there was any disappointment, it was in average hourly earnings.
- Without stronger wage growth, it is unlikely we will see sustained acceleration in consumer price inflation anytime soon.
Average personal income growth for all states was up 4.4% in 2015, with the Western and Southeastern states showing the strongest percentage gains in personal income.Read More ›
The U.S. employment report for March was another piece of positive economic news.Read More ›
In this week’s U.S. Outlook report, we give you a little preview of what you can expect from the U.S. economy and interest rates in 2016.Read More ›
The U.S. economic data continue to improve, and the near-term outlook appears to be shaping up pretty close to forecast expectations.Read More ›