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5 May 2017

April Jobs Report

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Post by MoneyRadio Staff

…..Economy adds 211,000 jobs last month. Unemployment rate drops to 4.4%. U6 drops to 8.6%. Wages up 2.5% YoY. 79th straight month of job growth. Financial Review by Sinclair Noe for 05-05-2017 DOW + 55 = 21,006 SPX + 9 = 2399 NAS + 25 = 6100 RUT + 8 = 1396 10 Y – .005 = 2.35% OIL + .89 = 46.41   Today is a Jobs Report Friday. The economy added 211,000 net new jobs in April. The unemployment rate dropped to 4.4% from 4.5% in March. This was a better than expected report. The consensus estimate was for 190,000 jobs. The March report was weaker than expected, initially reported at 98,000 jobs, it was revised even lower today – down to just 79,000. So, the big question heading into this report was whether March was a fluke, was it just a single, off month? And the answer is, yes. So, to smooth out the numbers, we can look at the first four months of the year and the average job growth is 185,000 new jobs per month, right in line with the average for 2016.   So, this was a good report. The reaction on Wall Street was muted, even as the Nasdaq and the S&P 500 closed at record highs. Bonds were flat. The yield curve between two-year notes and 10-year notes flattened to 103 basis points, from 105 basis points before the data.   The U-6 unemployment rate dropped to 8.6% from 8.9%. The U-6 …

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