06-02-2017, 11:11 PM
Disappointing jobs numbers:
The pace of job creation in the US slowed more than expected in May, and less participation in the labor market helped to push the unemployment rate to a 16-year low. The economy added 138,000 nonfarm payrolls while the unemployment rate fell to 4.3%, the Bureau of Labor Statistics said in its monthly report on Friday. Economists had forecast 182,000 nonfarm payrolls and a 4.4% unemployment rate, according to a Bloomberg survey. A broader measure of unemployment that includes people who are working part-time but would prefer full-time jobs — the U6 or underemployment rate — fell to 8.4%, the lowest level since November 2007. The share of people who are either working or job hunting relative to everyone in their prime working age — the labor-force participation rate — declined to 62.7% from 62.9%. Wage growth was little changed, and economists had expected this because of a calendar quirk: the survey week for the jobs report usually includes the 12th of the month. But in May, it was different from the week of May 15, when many workers get paid and would receive any raises.
US jobs report shows slower hiring, lower unemployment rate in May - Business Insider
The surging dollar? Perhaps not..
President Donald Trump has been compared to President Ronald Reagan in many ways. In a note on Wednesday, HSBC strategists did this through the lens of the US dollar. The greenback surged to a 14-year high in late 2016 as Wall Street hoped for pro-growth policies from the incoming president and the Federal Reserve raised interest rates. "The trajectory of the USD envisaged by our FX team is quite similar, but more compressed, to the way in which the USD behaved in the 1980s under President Reagan," wrote John Lomax, HSBC's head of global emerging-market equity strategy. "Reasons for the compression in the timetable include a much higher starting level of the debt stock; less cyclical strength, lower inflation and a more dovish central bank; and less political cohesion between the presidency and the House."
HSBC says dollar under Trump will surge then plunge, resembling 1980s - Business Insider