Investment Updates
Labor Market And Inflation Drove Stocks Higher
Published Friday, September 1, 2023 at: 11:51 PM EDT
Confirming the economic expansion is unlikely to stop anytime soon, the U.S. economy created 187,000 net new jobs
Wall Street had been expecting the addition of 170,000 new jobs would be created in August, net of jobs lost. The level of job creation is just below the 200,000 monthly net new jobs created in the 11-year economic expansion before the Covid-19 recession in February and March 2020. It’s defied expectations in the face of the most aggressive Federal Reserve monetary tightening campaign in post-War history.
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