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Research Team at BBH, suggests that the US employment data removed what
was perceived as the last potential hurdle to Fed decision to hike rates
later this month.
Key Quotes
“Not only was the headline number a little stronger than expected at 211k, but October jobs growth was revised to almost 300k. The internals were also generally favorable though the underemployment (U-6) did tick up, but is still at its lowest level since 2008, except for October.”
“The breadth of job gains (industries) was the best in nine months. The number of people quitting their jobs stands at a four-month high, and this coupled with labor shortages reported in the Beige Book, suggest reasonably good prospects for increased wage pressure.”
Key Quotes
“Not only was the headline number a little stronger than expected at 211k, but October jobs growth was revised to almost 300k. The internals were also generally favorable though the underemployment (U-6) did tick up, but is still at its lowest level since 2008, except for October.”
“The breadth of job gains (industries) was the best in nine months. The number of people quitting their jobs stands at a four-month high, and this coupled with labor shortages reported in the Beige Book, suggest reasonably good prospects for increased wage pressure.”
