Source: U.S. Bureau of Labor Statistics
MARKET IMPLICATIONS
*These are the opinions of ADMIS
February Employment Data
Estimated Actual
Nonfarm payrolls +235,000 +295,000
Private payrolls +225,000 +212,000
Unemployment rate 5.6% 5.5%
Market Implications
Stronger than expected data suggests the U.S. economy is improving, which should continue to support stock index futures and the U.S. dollar.
+213,000
Actual
5.4%
Estimated
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5.4%
Actual
UNEMPLOYMENT RATE
On balance slightly weaker than expected employment data suggests the U.S. economy is just treading
water, especially with the downwardly revised figure for March nonfarm payrolls.
PREDICTIONS AND OBSERVATIONS
It is our opinion that the Federal Open Market Committee will not be in a position to increase the
fed funds rate any time soon.