News 

‘Blowout’ jobs report further evidence of strong growth, economists say

“Here are reactions to the January jobs data, which showed 304,000 new U.S. jobs created in the month, and the unemployment rate rising to 4%” writes Robert Schroeder for marketwatch.com. Additional action on key priorities, such as approving the USMCA, will give manufacturing the confidence and certainty it needs to continue the strong growth of the past two years.” — National Association of Manufacturers Chief Economist Chad Moutray.Spriggs also noted the impact of the shutdown on payrolls at museums and historical sites: • “With 13,000 jobs created in January, manufacturing…

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News 

January Job Growth Surges by 304,000, Smashing Estimates

“Job growth in January shattered expectations, with nonfarm payrolls surging by 304,000 despite a partial government shutdown that was the longest in history, the Labor Department reported Friday” writes Jeff Cox for cnbc.com. Economists surveyed by Dow Jones had expected payrolls to rise by 170,000 and the unemployment rate to hold steady at 3.9 percent. Source: cnbc.com

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Futures News 

Dow futures point to a higher open as investors wait for payrolls data

“ET, Dow futures traded 51 points higher, indicating a positive open of 71.33 points” writes Silvia Amaro for cnbc.com. U.S. stock index futures pointed to a higher open on Friday morning with corporate release set to take center stage alongside the release of nonfarm payrolls data.Money managers are keeping an eye on trade talks between China and the United States.S&P 500 futures were also in positive territory while Nasdaq futures suggested a lower open.President Donald Trump also said he would soon meet with Chinese premier Xi Jinping to try to…

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News 

U.S. job growth likely slowed; minimal hit seen from government shutdown

“Job growth likely slowed across all sectors in January” reports businessinsider.com. The shutdown saw about 380,000 workers furloughed but is seen having a minimal impact on January’s job growth as President Donald Trump signed a law guaranteeing these employees back pay.The anticipated job gains would be more than the roughly 100,000 per month needed to keep up with growth in the working-age population.According to the Labor Department’s Bureau of Labor Statistics (BLS), which compiles the employment report, these workers will be included in the payrolls count.With key data from the…

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News 

Private companies add 213,000 jobs in January, easily topping expectations: ADP/Moody’s Analytics

“Within the services sector, jobs in professional and business services grew by 46,000 while education and health services payrolls expanded by 38,000” writes Fred Imbert for cnbc.com. The services sector contributed the lion’s share of the jobs this month, with 145,000 jobs being added.Wednesday’s report comes two days ahead of the release of the Labor Department’s monthly jobs report.Small businesses added 63,000 jobs.Companies added 213,000 jobs this month, the data show. Source: cnbc.com

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News 

Kudlow says January payrolls may be up a significant amount given most recent jobless figures

“Jobless claims are “a leading indicator of the jobs report and they’re a leading indicators of the economy,” Kudlow added” writes Al Drago for cnbc.com. White House economic advisor Larry Kudlow said Thursday that the government’s report on jobless claims earlier in the day hints that January’s jobs report will be strong.Kudlow referenced the Labor Department’s weekly update on the number of people seeking jobless benefits, which the government published Thursday morning.Kudlow, one of President Donald Trump’s top economic advisors, argued that the low level of jobless claims foreshadows a…

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Markets News 

Upbeat Employment Report Underscores Economic Strength

“Professional and business services employment increased by 43,000 jobs last month and government payrolls rose 11,000” writes Min Read for reuters.com. Job gains were reported across all industries, with the exception of the information sector, which shed employment for the second straight month.The December jobs gain pushed total U.S. employment above 150 million jobs for the first time.U.S. stocks rallied on the employment report on Friday and extended gains after Powell’s comments. Source: reuters.com

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News 

US payrolls shatter expectations, surge 312,000 in December

“U.S. employers added 312,000 workers in December as the economy benefited from retail hiring during the busy holiday shopping season and the country’s economic expansion continued” reports washingtonexaminer.com. Retailers added 24,000 new employees during the month as purchases in stores and e-commerce sites surged to the highest in six years. Source: washingtonexaminer.com

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News 

Unemployment Rate Ticks Up to 3.9% as Labor Participation Surges

“Job creation ended 2018 on a powerful note, with nonfarm payrolls surging by 312,000 in December though the unemployment rate rose to 3.9 percent” writes Jeff Cox for cnbc.com. Economists surveyed by Dow Jones had been expecting job growth of just 176,000, though they projected the unemployment rate to fall to 3.6 percent.In addition to the big job gains, wages jumped 3.2 percent from a year ago and 0.4 percent over the previous month.”The far bigger than expected 312,000 jump in non-farm payrolls in December would seem to make a…

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AUD News 

Major currencies are settling into a pre-NFP lull

“Markets will now look towards the US non-farm payrolls report for further clues on direction” reports forexlive.com. Meanwhile, the pound is doing pound things with the quid gaining some ground as Brexit developments continue to wait in the wings.Oil is up by ~2% currently and that’s helping to keep the loonie underpinned ahead of the Canadian jobs report which will be released at the same time as the US non-farm payrolls report later.The aussie is holding up well as risk sentiment remains positive on the day.E-minis are up by 1.2%…

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