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April jobs report has some 'good news' for the Fed: Economist

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The April employment report was cooler than economists had been expecting, with the US adding 175,000 jobs compared to the estimated 240,000.
Citi Senior Global Economist Robert Sockin and State Street Global Markets Senior Global Multi-Asset Strategist Dan Gerard join Morning Brief to discuss the April report.
Sockin notes that the unemployment rate remains at a relatively low level, despite rising to 3.9% in April. The United States added fewer jobs than predicted and wage growth slowed, which Sockin explains may be indicative of “a moderating job market rather than a job market that’s falling off a cliff” and could be “good news” for the Federal Reserve.
Gerard notes that the jobs report is still “a pretty decent number given where rates are,” especially as post-pandemic normalization is still underway.
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17 comments
@unaldurmaz250

FED better off hiking the rate but they'll keep same as previous

@jayc9184

LOL, traders don't get their information from yahoo news!

@SueKoenigs

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@unaldurmaz250

FED has to raise rates your analysis is complete opposite 😂

@JohnSmith-kr6ek

The only jobs the government is not just guessing is the government jobs. Next month like 9 out of 10 months since forever they over guessed. Nobody ever looks. The economy is surviving on printed money given to people Period. Social security,welfare, migrants. Then all the government jobs related to them. It's house of cards.

@KippinCollars

Unemployment rate is 3.9% which is still super good by historical standards. To give some perspective, in the late 90's boom, unemployment rate bottomed at 4% – this was when everyone and their brother could easily find work. We've been below 4% for years. Sure, there's only up from here, but overall the economy is strong. 2019 Unemployment rate was 3.5%. If we adjust, and unemployment rises the same % as it did in the late 90's, then we'll get to 5.25% unemployment in 2025 or so. I don't think those numbers justify a return to ZIRP and QE to infinity.

@vanessalore9942

So basically the poor and middle class have to lose jobs and make less money in order to get inflation under control. Inflation created by the government. Same old tune

@marcuscook5145

This is only good news for the fed if April inflation comes in lower than expected. If it comes in higher than expected despite a slowing economy like the last report or two, than its actually really really bad for the fed, because we could be in for an inflationary recession or at least very slow growth with high inflation. Given the way the government spends, it's very possible this is what ends up happening.