US labour market data was a bit disappointing as the number of newly created jobs fell short of expectations and last month’s number was revised downwards. Fed watchers will be particularly disappointed by the low wage growth in November which was 0.2% vs. 0.3% expected. However, annual wage growth remained at 3.1%. Overall, the picture is not bad. It just confirms what we already knew: the US economy is cooling down a little bit from its summer peak.
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(Almost) Daily Market News Update
- Published:
10 Dec 2018 -
Author:
Joachim Klement -
Pages:
6
US labour market data was a bit disappointing as the number of newly created jobs fell short of expectations and last month’s number was revised downwards. Fed watchers will be particularly disappointed by the low wage growth in November which was 0.2% vs. 0.3% expected. However, annual wage growth remained at 3.1%. Overall, the picture is not bad. It just confirms what we already knew: the US economy is cooling down a little bit from its summer peak.