Fed is not yet at that point of lowering interest rates, Bowman says The Federal Reserve is not yet at the point where it can start gradually lowering interest rates, Federal Reserve governor.
Jobs Growth of 353,000 Blasts Past Expectations as Labor Market Stays Hot Jobs growth far outstripped expectations, the latest surprise delivered by a labor market that has defied predictions. -February 02, 2024 at 03:16 pm EST
- MarketScreener
S&P 500, Dow Reach New Highs Megacap tech shares led by Meta Platforms propelled stock indexes higher Friday while a stronger-than-expected jobs report shook the bond market.
Jobs Growth of.
where exactly did we see those job gains? we saw it in these industries. take another look at professional and business services adding 64,000 jobs, again, just in the month of may alone. we also saw job gains in health care, retail trade added about 12,000, and leisure and hospitality up about 48,000 in the month. so again, a blowout jobs report well above wall street estimates and showing that the jobs market continues to be strong even this far away from the pandemic recovery. so what s your reaction to this report, and why do you think analysts have been so off with their projections in these recent months? well, why did everybody come into this year all the way saying that it s fait accompli that we re going to be in a recession. it s been a surreal year with these massive bank failures with wage inflation and people polled on the street would say the misery index is pretty high as we ve discussed career. then you have brian discussing these 50-year low numbers in unemployment
again, thanks so much. appreciate it. thank you. now to wall street where the dow is soaring more than 600 points, almost 700 now driven by that agreement on the debt limit bill and a stronger than expected jobs report. cnbc s morgan brennan is following all of this for us. walk us through what this all means. hi, chris, we ll continue with the optimism, shall we? stocks are really rallying this friday afternoon. the dow is up 2% right now, and you just mentioned the reasons. you had this debt ceiling deal which helps us to avert a default and add some fiscal stability into the market. the market likes having certainty here. and of course more importantly, you have this blowout jobs report. the u.s. economy added 339,000 jobs last month. that was almost 150,000 more than wall street had been expecting. plus you saw these dramatic upward revisions in job growth for the months prior. the jobs report is watched closely by investors because it s watched very closely by the