JumpinJack
DP Veteran
- Joined
- Aug 19, 2013
- Messages
- 6,628
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- Dallas, TX
- Gender
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- Political Leaning
- Independent
https://www.thestreet.com/video/13666356/economy-adds-255-000-jobs-in-july-paving-way-for-near-term-fed-hike.htmlThe labor market is roaring. The economy added 255,000 jobs in July, beating estimates of 185,000. May's jobs numbers were revised to plus 24,000 from plus 11,000 jobs. June's number was updated to plus 292,000 positions from plus 287,000 positions. Average hourly earnings rose 0.3 percent, beating estimates of 0.1 percent. TheStreet's Scott Gamm and Moody's Analytics' chief capital markets economist John Lonski discuss what the report means for the Federal Reserve's looming rate hike.
Nasdaq tops year-old record, S&P 500 hits high, tooStocks jumped Friday, with the Nasdaq and S&P 500 passing all-time closing highs, after the government reported a better-than-expected 255,000 jobs were created in July.
Not a bad comeback from the Great Recession that nearly drove the country, and the world, into the Second Great Depression. This is VERY helpful to retirement accounts, college savings accounts, and other accounts. This is good news. (Of course, what goes up, comes down. So best not to get too complacent.)