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Today was all about the US June non-farm payrolls report and it didn’t disappoint. After a catastrophic combined fall of 22 million jobs in March and April, last month saw a surprising rebound of 2.5 million. Today’s data continued that bounce, with the US economy adding 4.8 million jobs, a record pace and well above the forecast 3 million.However, there are a few caveats to the numbers. The report used data collected up until mid-June so is slightly stale, as the possible second wave of infections and re-closing was yet to kick in, while the number of permanent jobs losers continued to... Read More

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