Here is the bottom line from CalculatedRisk (for more, including many charts, visit the site here: http://www.calculatedriskblog.com):
“The headline jobs number was strong, and there were upward revisions to job growth for prior months. Both the participation rate and employment-population ratio ticked up, and wages increased.
A few negatives were U-6 increased slightly, and the number of both long term unemployed and part time workers increased slightly. But overall this was a strong report.”
But the Atlanta Fed’s GDPNow estimate, after accounting for today’s jobs report and today’s international trade report, was about unchanged:
“The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2016 is 3.8 percent on August 5, up from 3.7 percent on August 4. After this morning’s employment situation release from the U.S. Bureau of Labor Statistics and this morning’s international trade report from the U.S. Census Bureau, the forecast for third-quarter real gross private domestic investment growth increased from 8.1 percent to 8.8 percent.”
Here is the link: https://www.frbatlanta.org/cqer/research/gdpnow.aspx?panel=1
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