US labour market cooling, but still hot – ABN Amro

“The unemployment rate declined one tenth, to 3.5% – close to its all-time low. Wage growth remained benign at 0.3% m/m , though we must add the caveat here that productivity has been very weak of late, meaning that unit labour cost growth has surged . The overall message is that the labour market is loosening, but remains exceptionally tight. “

“A more gradual slowing in the labour market is visible in other data, including continuing jobless claims, and challenger job cut announcements .”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.

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