US Non-Farm Payrolls Mixed Signal
The latest US Non-Farm Payrolls (NFP) data pointed to higher-than-expected employment growth while showing an upward movement in the unemployment rate.
Employment growth has not completely stalled yet
However, signs of cooling in the labor market are strengthening
For the Fed, this data
➡️ Makes hasty easing difficult
➡️ But also calls into question the sustainability of the current tight stance
📌 The message for the market is clear
A single data point does not determine the direction. The trend and its continuation are important.