No bad news in the Trump June jobs report. @McTagueJ @Barrons

07-07-2017 (Photo:... Job Seekers and Recruiters Pack the Forum | by fairfaxcounty ) http://JohnBatchelorShow.com/contact http://JohnBatchelorShow.com/schedules Twitter: @BatchelorShow No bad news in the Trump June jobs report. @McTagueJ @Barrons “U.S. nonfarm employers added a seasonally adjusted 222,000 jobs in June. The unemployment rate ticked up to 4.4% from 4.3% the prior month as more people joined the workforce. Here are early reactions from economists and analysts to Friday’s report: “June employment data and the attendant upward revisions confirm what a lot of recent ‘soft’ data have been indicating—the economy is doing well enough.” —Steven Blitz, TS Lombard “The 222,000 gain in nonfarm payrolls in June, which was well above the consensus forecast at 179,000 and even our own more upbeat 200,000 estimate, is another illustration that the real economy is in good health.” —Paul Ashworth, Capital Economics “Typically when low unemployment is paired with a low participation rate, workers should see wages increase. But in our slow-growth market we are seeing them stagnate, which is not good news.” —Michael Stull, Manpower North America “While the hourly wage component is below consensus estimates, the stronger headline payroll number coupled with upward revisions, suggest that wages should gain in the near to medium term. The gain in hours in the work week, albeit small, suggests that economic activity is picking up under the surface.” —Quincy Krosby, Prudential Financial “It’s another strong print for headline jobs but wage growth is as measly as it’s been for a while. Nothing here is going to dissuade the Fed from its rate-hiking cycle, though.” —James Athey, Aberdeen Asset Management “In short, no strong signal of accelerating wage growth yet as the labor market gets tighter and tighter. So the mystery gets deeper and deeper for the Fed to unravel. Without stronger wage growth to underpin it, it is unlikely we will see sustained acceleration in consumer price inflation anytime soon.” –Scott Anderson, Bank of the West “The labor market remains rock solid, but the aggregate wage data continue to defy what the anecdotal and survey evidence are clearly pointing to — a significant pickup in wage offers amid a tight (and tightening) labor situation.” –Stephen Stanley, Amherst Pierpont “While the pace of job creation in government overstates the true pace of hiring, there is no reason to believe at this point in the business cycle that the economy will not continue to create enough jobs to send the unemployment rate down below 4% in early 2018.” —Joe Brusuelas, RSM US “While many people found employment during the month, even more entered the labor force looking for work — a sign of confidence in the labor market. Labor force participation rate edged up to 62.8% as more people got off the sidelines and back into the workforce, a good sign for the labor market that appears to have a dearth of qualified applicants for the more than 6 million open jobs.” –Satyam Panday, S&P Global Ratings “Continued labor market health and additional spending power for workers is good news for the housing market, but even with the higher weekly earnings growth seen in June, home prices continue to outpace income growth.” —Danielle Hale, National Association of Realtors “The improvement in the labor market is pulling people back into the job search process. The labor force expanded, as did the labor force participation rate.” –Joel Naroff, Naroff Economic Advisors Inc…” https://blogs.wsj.com/economics/2017/07/07/economists-react-to-the-june-jobs-report-doing-well-enough/

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