US: Labor market continues to shine - SocGen

Omair Sharif, Research Analyst at Societe Generale, suggests that the Friday’s US employment report cements a 25 bps hike by the Fed this week, and Fed officials had to like what they saw on Friday.

Key Quotes

“Job gains were solid in most sectors, perhaps helped in part by milder weather, and were also very broad-based. The unemployment rate dipped as the participation rate climbed, the broader “underemployment” rate fell, and the annual growth rate in average hourly earnings bounced back after last month’s drop. Overall, there was a lot to like and few chinks in the armor, as the labor market data continued to shine.”