Longest Job Expansion Continues: 77 Months

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Today the BLS reported its monthly jobs data. Payroll employment beat expectations, coming in at 235,000.

“Total nonfarm payroll employment increased by 235,000 in February. Job gains occurred in construction, private educational services, manufacturing, health care, and mining. ”

https://www.bls.gov/news.release/pdf/empsit.pdf

Here is a breakdown of the jobs in the report. Construction jobs came in huge, which is always a bullish sign. Manufacturing which had been a recession is finally showing some life as the world reflation trade continues.

https://www.bls.gov/charts/employment-situation/civilian-unemployment-rate.htm#
MARCH JOBS 4

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As always, stay in school kids. We still have a relatively high unemployment rate for high school drops but college educated Americans have been below 3% for some time now.
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The chart below shows how the stock market and the unemployment rate move together.

From Doug Short
https://www.advisorperspectives.com/dshort/updates/2017/03/10/february-jobs-report-another-235k-new-jobs-better-than-expected

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We are still continuing the longest job expansion in U.S. history.

From Calculated Risk
http://www.calculatedriskblog.com/2017/03/february-employment-report-235000-jobs.html

PayrollFeb2017 (2)

77… As in 77 consecutive months of jobs growth, by far the longest streak in history.

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Wages grew month to month and year over year growth is at 2.8% .
WagesFeb2017

This was a good report and we are on pace still to have another 2 million job created  for 2017. I expect the Fed to raise  interest rates by a 0.25% at the next meeting. However, note that  the 10 year yield didn’t go above that key 2.62% level this morning. That channel of 2.27% – 2.62% that I have been talking about all year is still intact, for now.