Reported about 1 year ago
The June jobs report in the US surpassed expectations with the addition of 206,000 new jobs, higher than the anticipated 190,000. Ameriprise Financial's VP of Equity Research, Justin Burgin, views the data positively, noting the job additions surpass last month's report. Burgin explains the unemployment increase could lead to favorable Federal Reserve policy conditions, emphasizing the importance of job growth. Despite an optimistic outlook with a projected GDP growth of 2.1%, Burgin believes the report signals a promising outlook for markets, as economists seek a gradual economic slowdown with a stable job market, robust consumer spending, and strong corporate profits maintaining market highs.
Source: YAHOO