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It’s jobs day, and that means it’s time for charts!
In June, the US economy created 209,000 jobs, which fell short of the expected 225,000. This is the first time in 14 months that the numbers haven’t met economists’ forecasts, according to Bespoke Research.
If you missed the chart due to rate limitations on Twitter, don’t worry, we’ve got you covered:
The second set of charts, which arrived before NFP, may have made more sense after the blowout ADP data.
Jim Reid of Deutsche Bank reminds us that changes in labor markets tend to follow changes in the overall economy. In other words, job losses usually occur after a recession has already started. While this is common knowledge, the charts are still visually appealing.
Although labor-market strength doesn’t directly impact the future economic outlook, it does play a significant role in Federal Reserve (Fed) policy. The recent jobs data reinforces investors’ belief that the central bank will raise rates at its July 25-26 meeting.
And now, here’s a bonus chart for you:
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