It’s Jobs Day, AKA the greatest day of the month.
Analysts expect to see 215,000 new jobs created in June, with the unemployment rate staying steady at 215K.
But here’s a little trick for watching today’s number like a pro. Watch what happens to average hourly earnings.
One of the biggest debates right now in the economy is what is happening with prices and inflation. This is something the Fed watches closely, and it going to be a major signal to the market about what will happen next in terms of monetary policy. Because if wages are surging, that means the labour market is getting tight, and that tightness means potential inflation.
There have been gains in average hourly earnings, but there’s been no major surge just yet. This number is just as important as the general jobs created number.