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Drawn-out Market Top or Consolidation?

By Matthew Kerkhoff

 

Investors are second-guessing themselves today after Friday’s surge took major indexes close to their record highs. The push higher last week came on the heels of the monthly jobs report, so let’s take quick look at what got everyone so excited.

 

This visual from MarketWatch tells us just about everything we need to know regarding the latest labor market report.

 

To begin, the economy created 223,000 jobs last month and the unemployment rate slid to 5.4%. Remember to always take these figures with a grain of salt because they are “seasonally adjusted,” which means that the Bureau of Labor Statistics tweaks the figures to fit their seasonal models, which doesn’t always work out well (last month’s initial figure of 126,000 jobs created was revised to 85,000). Nonetheless, the headline figure was fine, and the underlying data was supportive of ongoing trends.

 

 

A look at job creation by industry (right side of the ... Log in or subscribe to continue reading.


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