Archive for the ‘Nonfarm Payrolls’ tag
Former Fed’s Poole Says Nonfarm Report Was "Marginal Surprise"
The U.S. Employment Report for July’s nonfarm payrolls was a
“marginal surprise” and weakness in the labour market
could keep the Fed on hold for some time, according to former St. Louis
Fed Chief William Poole in an interview with Bloomberg Television on
Friday.
U.S. July Nonfarm Payrolls Decline 51k, Unemployment Rate Up to 5.7%
U.S. nonfarm payrolls declined for the seventh
straight month, falling less than expectations by a total of 51k jobs in
July, according to the Bureau of Labor Statistics on Friday. June’s
decline was revised to a loss of 51k jobs from an initially reported loss
of 62k jobs.
Economist Calls U.S. ADP Employment Report "Grossly Over-Optimistic"
Following the release of the ADP private employment
report on Wednesday, which posted a gain of 9k jobs in July,
economists dismissed the figures as overly optimistic
and predicted they won’t be reflected in the BLS nonfarm payrolls survey
on Friday.
Speaking on CNBC, Joel Prakken, chairman of Macroeconomic Advisors and
spokesperson for the report, characterized the figures as a “weak
report,” while the report emphasized…