September NFPs Clear the Bar for November Taper

Summary
• NFPs were lower than expected, with a broad-based slowdown in employment growth.
• Participation fell but will probably slowly recover going forward.
• Nominal wage growth remained high but real wage growth low and in line with unemployment.
• The NFP cleared Chair Powell’s bar for a November taper.

Summary
• NFPs were lower than expected, with a broad-based slowdown in employment growth.
• Participation fell but will probably slowly recover going forward.
• Nominal wage growth remained high but real wage growth low and in line with unemployment.
• The NFP cleared Chair Powell’s bar for a November taper.

Subscribe to Macro Hive Professional to read this article

and enjoy exclusive professional features such as in-depth analysis, insightful op-eds, and more.

Contact Us

Already have Macro Hive Professional account? Log in