U.S. jobs report exceeds forecast expectations
In this week’s market update:
- October U.S. jobs report exceeds forecast expectations
- Is the latest jobs report the key to a December Fed rate lift-off?
- Is the Chinese economy out of the woods yet?
On Market Week in Review, Managing Director, Asset Allocation and Portfolio Strategy Adam Goff discusses a surprisingly positive U.S. jobs number released today with the addition of 271,000 jobs during the month of October. Goff notes that as one of the last two jobs reports before the Federal Open Market Committee (FOMC) meeting in December, underlying numbers within the latest report pointed to signs of robust economic growth, increasing the probability for the U.S. Federal Reserve (Fed) rate lift-off in December.
He also points out that recent economic activity in China is not the potential disaster that seemed likely earlier this year. And China’s economic challenges are not causing much global contagion, which the Fed has kept a close eye on as they decide when to raise U.S. interest rates.
Alexandra Davis hosts this week’s market update, in which Goff concludes by examining the European Central Bank’s decision on timing to boost stimulus in Europe following the latest economic numbers this week.