Loading ...June Payrolls Preview: With The Fed On Autopilot, You Can Skip This One
by Tyler Durden
Jul 6, 2017 9:21 PM
After a poor March jobs report, followed by an April scorcher, then another debacle in May, the June payrolls report due at 8:30am will be… very much irrelevant, because as Citi pointed out earlier, the Fed is now data-independent and will keep hiking until financial conditions finally tighten (read: stocks drop). In other words, with the Fed on autopilot, feel free to skip this one – it hardly matters. For what it’s worth, here are the consensus expectations for tomorrow’s report:
- June Nonfarm Payrolls Exp. 179K vs May 138K
- Unemployment Rate Exp. 4.3% vs May 4.3%
- Average Hourly Earnings M/M Exp. 0.3%, vs May 0.2%; Y/Y Exp. 2.60%, vs May 2.50%
Courtesy of RanSquawk, here is a detailed breakdown of expectations: