from Zero Hedge:
So much for payrolls tracking declining tax withholdings. With many expecting a payrolls whisper number to come below the consensus print of 180K, moments ago the BLS reported that July payrolls soared by 255K, above even the highest Wall Street forecast, and a number made even more impressive by the upward revision to the June print from 287K to 292K. The unemployment rate remained flat at 4.9%, on expectations of a modest drop to 4.8%.
Finally, making a strong case for a December (or even September, however, the Fed will never hike before the election) rate hike, were the average hourly earnigs which rose 0.3%, above the 0.2% expected, and well above last month’s 0.1%, and rising 2.7% compared to a year ago.
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