The U.S. July employment report (non-farm payrolls) beat expectations among economists surveyed on Bloomberg across multiple metrics (headline number, unemployment rate, average hourly work week and average hourly earnings). In fact, according to the JOLTS job openings data there are now more job vacancies in U.S. (10.073 million) than unemployed people.
In this presentation, we will look at the impact this has on the U.S. economic recovery, the Federal Reserve central bank policy and the potential knock-on effect to asset prices.
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