Neither the January downturn nor the annual reviews beat the US use: the labor market does not succumb and the Fed knows

The star macroeconomic data for Wall Street operators has returned to the city. The Official Employment Report of the US has not lacked its first Friday appointment of each month as the best indicator – for investors – of the health of the economy of the first power of the planet. The January delivery, published this Friday by the Office of Labor Statistics (BLS) of the Department of Labor, has been one of those that bring a mow of mixed data susceptible to various interpretations. However, under the weakness in the data creation data last month and the considerable annual statistical reviews, the truth is that the American labor market still does not succumb at all and that remains margin to the Federal Reserve to continue cutting interest rates. In other words, the aggressive increases of types of recent years have not yet ‘bent’ to the US economy. On the contrary, the symptoms of strength make new dislikes fear in the front of inflation.

The net employment creation in January was 143,000 non -agricultural positionsbelow 160,000-170,000 expected. However, November and December readings were checked at 100,000 upstream (+49,000 to 261,000 in November and +51,000 in December until 307,000, a figure considered quite strong, given that the standard is usually located something below The 200,000 non -agricultural payrolls. The unemployment rate fell one tenth to 4% and The average time per hour accelerated an intermensual 0.5% compared to 0.3% expected and previous. In interannual terms, Income rebound 4.1% compared to 3.8% expected and move away from 3.5% that from the Fed see compatible with lower inflationary pressures and a convergence towards the 2% target in inflation.