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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
@RichieAnnabel

The Market have been suffering over the past month, with all the three indexes recording losses in recent weeks. My $400,000 portfolio is down by approximately 20%, any recommendations to scale up my returns before retirement will be highly appreciated.

@simpiwemaqwara2184

It's too early to expect rates cuts based on this weak jobs report

@honkhonkler7732

Just wait until inflation comes in higher than expected again. The fed is stuck.

@dewaynewalker2104

This will likely give cover for the vegetable in the White House (a.k.a. the big guy) to order the supposed independent Fed to lower rates for political needs.

@Willfully_Ignorant

Wait, so we’re back to 1 report equals a trend again? Huh, funny how that works when it favors what you want to happen.

@goneviral8814

Everyone looking for rate cuts 😅😂😅😂. We need more hikes to end the Ponzi scheme

@Marques127

Why is unemployment a good thing? Im confused, how do the markets like 'high unemployment'?

@xiphoid2011

Unemployment need to go up to the historical average range of 4.5-5.5% and wage increase need to come down to 3% before consummer spending stop driving the inflation higher. It's not rocket science to know when almost everyone is able to get a job, and jobs are paying averaging 4.2% wage increases, rhe consumer spending is going to go up 4% a year, pushing inflation to be close to 4%. I mean, i got a 4% raise last 2 years, of course I spend that much more (even though I kept my savings rate constant).