The S&P 500 is sitting at 1,948, a rise of 7 points after a strong May US non-farm payrolls number pleased the markets and means that for the first time since the last recession the US has made up all the jobs lost in the 2008/2009 down turn.
The American Economy created 217,000 jobs in May, compared with expectations of around 210,000. April was revised slightly downwards to a 282,000 gain, with March at 203,000 meaning that on average the market has created an average of 214,000 jobs a month this year, ahead of the 193,000 in 2013 . The unemployment rate came in flat at 6.3% and the labour participation rate, which sits at a 36-year low, was also unchanged at 62.8%
The latest release from the Bureau of Labour Statistics finds there are 138.463 million employed people in the United States. That is a new high but the recovery to achieve that level has been the slowest in postwar history.
The latest set of US non-farm payrolls means that the Federal Reserve is likely to continue tapering its asset purchase programme to $35 billion from $45 billion a month. A very solid if not spectacular growth in the US economy right now, but how long can markets continue rising as the Dow industrials close in on 17,000?
Contrarian Investor UK
IMPORTANT: The posts I make are in no way meant as investment suggestions or recommendations to any visitors to the site. They are simply my views, personal reflections and analysis on the markets. Anyone who wishes to spread bet or buy stocks should rely on their own due diligence and common sense before placing any spread trade.
by contrarianuk
US markets hit fresh all time highs as jobs numbers don’t disappoint
Jun 6, 2014 at 2:16 pm in Market Commentary by contrarianuk
The S&P 500 is sitting at 1,948, a rise of 7 points after a strong May US non-farm payrolls number pleased the markets and means that for the first time since the last recession the US has made up all the jobs lost in the 2008/2009 down turn.
The American Economy created 217,000 jobs in May, compared with expectations of around 210,000. April was revised slightly downwards to a 282,000 gain, with March at 203,000 meaning that on average the market has created an average of 214,000 jobs a month this year, ahead of the 193,000 in 2013 . The unemployment rate came in flat at 6.3% and the labour participation rate, which sits at a 36-year low, was also unchanged at 62.8%
The latest release from the Bureau of Labour Statistics finds there are 138.463 million employed people in the United States. That is a new high but the recovery to achieve that level has been the slowest in postwar history.
The latest set of US non-farm payrolls means that the Federal Reserve is likely to continue tapering its asset purchase programme to $35 billion from $45 billion a month. A very solid if not spectacular growth in the US economy right now, but how long can markets continue rising as the Dow industrials close in on 17,000?
Contrarian Investor UK
IMPORTANT: The posts I make are in no way meant as investment suggestions or recommendations to any visitors to the site. They are simply my views, personal reflections and analysis on the markets. Anyone who wishes to spread bet or buy stocks should rely on their own due diligence and common sense before placing any spread trade.