July 2, 2020

US EMPLOYMENT POWERS AHEAD IN JUNE, BUT NEW COVID OUTBREAKS CAST RECOVERY DOUBTS

Market Commentary
02/07/2020

Highlights:

The better than expected pace of job creation (+4.8m vs. +3m cons.) brought the unemployment rate back to 11.1%. Employment gains were particularly strong in sectors that reopened as restrictions were lifted. However, data collection took place before the new outburst of COVID in several states.
Higher frequency indicators like weekly jobless claims and daily mobility point to a slowdown in job creation. Recent evidence of another wave of cases in several large states points to downside risk.

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US EMPLOYMENT POWERS AHEAD IN JUNE, BUT NEW COVID OUTBREAKS CAST RECOVERY DOUBTS

In Short

Highlights:

Download the full publication below

RELATED INSIGHTS

Also interesting

ECB greening of the credit market to start in 2022

Market Perspectives ǀ Overfretting about the triple peak

ECB sends a dovish message as new strategy increases threshold for raising rates