#june #jobmarket #labormarket #yahoofinance
The June jobs report beat expectations, with 206,000 new jobs added to the US labor market and topping expectations of 190,000. Ameriprise Financial Vice President of Equity Research Justin Burgin joins the Morning Brief to analyze market implications (^DJI, ^IXIC, ^GSPC) following this report. Burgin characterizes the data positively, stating, "It was just a good report." He highlights the job additions and the unemployment numbers, noting that "it beats what we got last month." Regarding the unemployment increase, Burgin explains it could create favorable conditions for Federal Reserve policy, telling Yahoo Finance "the Fed wants job growth to slow, plain and simple." Despite this, Burgin maintains an optimistic economic outlook, projecting GDP growth at 2.1%. Overall, Burgin views the jobs report as bullish for markets, saying, "That’s what economists want to see, this gradual slowing of the economy. You have a job market that’s not imploding, consumer spending still continues to be strong, corporate profits are strong, that’s why the market keeps hitting highs." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith
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