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Friday’s jobs report brought fresh and welcome news that the US economy is still humming along in all the right ways.
The nation added a net 224,000 jobs last month, the Labor Department announced, markedly more the expected 165,000. Wage growth remains strong, at above 3% year-over-year, for the 11th month in a row, as a tight labor market forces employers to share the wealth generated by solid Trump-era GDP growth.
Dow - News - Traders - Federal - Reserve
The Dow dipped on the good news, as traders fear it means the Federal Reserve is now less likely to deliver an interest rate cut. But that’s just the latest in a long string of examples showing that short-term stock market movements aren’t about the economy’s strength.
Unemployment still bumped up slightly despite the job gains, but that’s a good sign, as it means that ever-more Americans who’d given up hope of finding work have...
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