August jobs report shows solid payroll gains and tighter labor market conditions
Nonfarm payrolls rose 201,000 in August (with private payrolls up 204,000). While this gain was slightly above forecasts, total payroll gains in the prior two months were downwardly revised by 50,000. The unemployment rate was unchanged at 3.9% in August (though close to 3.8% at 3.853% unrounded). Average hourly earnings increased 0.4% in August, pushing year-over-year wage growth to 2.9% from 2.7%. Please see the attached note for more.
RDQ Economics provides global macroeconomic consulting services with an emphasis on U.S. economic fundamentals and monetary policy.
Our views are driven by consistent application of classical economic and monetary principles and has generated superior anticipation of changes in the stance of monetary policy and of movements in economic growth and inflation.
The founders of RDQ Economics, John Ryding and Conrad DeQuadros, have a combined experience of 26 years on Wall Street, 12 years of experience in central banking at the Federal Reserve and the Bank of England and nine years in the independent research space. John and Conrad have worked closely with fixed income, foreign exchange, and equity traders and portfolio managers, which has enabled their analysis and advice to be tailored to a clientele that is focused on trading and investment decisions.
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