U.S. Labor Dept Says Preliminary Estimate Of Nonfarm Payrolls Benchmark Revision Would Cut March 2023 Level Of Employment By 306,000 Or 0.2%
Portfolio Pulse from Happy Mohamed
The U.S. Labor Department has announced a preliminary estimate of nonfarm payrolls benchmark revision that would reduce the March 2023 level of employment by 306,000 or 0.2%.
August 23, 2023 | 2:07 pm
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NEGATIVE IMPACT
The SPY ETF, which tracks the S&P 500, may be impacted by this news as it reflects the overall health of the U.S. economy.
The SPY ETF tracks the S&P 500, which is a broad representation of the U.S. economy. A decrease in employment levels can indicate a slowing economy, which could negatively impact the value of the ETF in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75