US misses jobs estimate by a mile as analysts scratch their heads
For traders who had their post-pandemic strategy figured out, this sudden murkiness will rightfully cause them to rip up their playbooks
07 May 2021 - 18:05
This was supposed to be a US jobs report for the ages. One million more Americans were expected to be added to nonfarm payrolls — and perhaps even two-million — in a sign that the world’s largest economy was breaking out of the Covid-19 pandemic.
Instead, when the dust settled, it looked as if the US labour market had hardly made any strides forward — and certainly nothing close to the Federal Reserve’s benchmark of “substantial further progress.”..
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