USA Private Nonfarm Payrolls For September 223K Vs 125K Est.; 114K
Portfolio Pulse from Benzinga Newsdesk
The USA private nonfarm payrolls for September reported an increase of 223,000 jobs, significantly surpassing the estimated 125,000. This indicates a stronger labor market than anticipated.
October 04, 2024 | 12:31 pm
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The stronger-than-expected increase in private nonfarm payrolls suggests a robust labor market, which could positively influence the SPY ETF as it reflects the overall health of the US economy.
The SPY ETF, which tracks the S&P 500, is likely to be positively impacted by the stronger-than-expected payroll numbers. A robust labor market can lead to increased consumer spending and economic growth, benefiting the companies within the index.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80