🇺🇸 Jobs report surprised. The US labor market is still strong

Today's US data came in significantly better than the market expected:

• New jobs: +162k vs. expected +56k • Unemployment remained at 4.1% • Wages rose 0.3% month-over-month and 3.1% year-over-year • July data was also revised from -23k to +21k jobs

A stronger labor market is good news for the economy, but for stocks it may not be. After the report, the market increased expectations of another Fed rate hike, and US bond yields headed higher.

From our view, the report shows the US economy is holding up fairly well for now. But inflation will be very important – it may decide what the Fed does with rates next.

How do you see today's jobs report? Positive for the economy, or rather negative for stocks? 👇