5 Top Economists React To July's Job Data: Insights On Labor Market Slowdown And Its Impact On Fed Policy
Portfolio Pulse from Piero Cingari
The July jobs report showed a gain of 187,000 jobs, falling short of the expected 200,000, and a drop in unemployment rate to 3.5%. Wages also saw solid growth, increasing by 0.4% month-on-month and 4.4% year-over-year. The SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.7% on Friday. Five economists provided their insights on the report, with some expressing optimism and others pointing out areas of concern. The report's implications for the Federal Reserve's future actions were also discussed.
August 04, 2023 | 5:02 pm
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The SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.7% on Friday following the release of the July jobs report. The report's implications for the Federal Reserve's future actions could further impact the ETF's performance.
The SPDR S&P 500 ETF Trust (NYSE:SPY) rose following the release of the July jobs report, indicating a positive market reaction to the data. The report's implications for the Federal Reserve's future actions, particularly regarding interest rates, could further impact the ETF's performance as it reflects the performance of the S&P 500 Index, which is influenced by changes in monetary policy.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75