Spreadex Market Update
US economy gained 288,000 jobs
The US economy gained 288,000 jobs in April the biggest for over two years sending stocks slightly stronger in early US trading, after a difficult winter weather wise this most recent figure is a sure fire sign the economy is regaining some momentum. The higher than expected jobs figure was coupled with the jobless rate plunging to its lowest rate since the collapse of Lehman Brothers in Autumn 2008, the rate now stands at 6.3%. Markets will now move into the phase which has characterized recent months where any good news is then met with prospect of tighter monetary policy in the US which is perhaps illustrated to the fairly subdued response to what on the surface of things are a very good set of figures.
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