Posted by Kevin Scully
The much anticipated US non farm payroll data released last Friday was disappointing with the figure coming in at 113,000 - well below my expectations of 180,000 and market expectations of 185,000. However, unemployment rate improved from 6.7% to 6.5% and is now just 0.1% away from the Fed's targetted unemployment rate of 6.5%.
The poorer than expected figure is supposed to be weather rather than health of the US economy related which is why the unemployment figure improved. Markets were quite volatile as investors tried to make sense of the data.
Forget the noise, the most important trend and policy we need to be looking at is whether the Fed will continue its ...