NFP: Solid gains that supports continued economic growth - Wells Fargo

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - According to economists from Wells Fargo today’s numbers support the Fed’s move to raise rates for the first time since 2006 as it shows solid gains and diminishing slack.

    Key Quotes:

    “Nonfarm employment rose 211,000 in November—a solid gain that supports continued economic growth. We have emphasized the divergence between the manufacturing and non-manufacturing ISM surveys and we can see that divergence in today’s number. Manufacturing employment edged lower, while mining employment fell for the 11th straight month.”

    “Reduced labor market slack is beginning to lead to a modest pickup in wages, but the declining pool of available workers signals a rising problem of a shortage of workers relative to demand. In addition, labor force participation remains depressed. Beyond the demographic headwinds on the participation rate, there has been an ongoing decline in participation among prime-age workers that preceded the Great Recession, suggesting limited scope for a cyclical rebound.”
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