- Solid employment gains of +255k in the month of July.
- Gains in professional and business services, healthcare, and financial activities.
- Jobs in the mining sector continued trending lower.
- Unemployment rate (U3) steady at 4.9% or about 7.8mm people.
- Average hourly earnings increased by 8 cents to $25.69.
- May and June employment numbers were increased by an additional +18k.
Market participants are RISK-ON after the strong employment data.
10-Year US Treasury yields are up nearly 4bps on the print.
Regards,
Danny
