Overview: The April labour market report proved stronger than generally anticipated. The data revealed a job loss of 20,000 persons in April (consensus: -75,000, DB: -40,000) and a drop in the unemployment rate to 4.95% from 5.08% (consensus and DB: 5.2%). Prior months saw a mild net revision of -8,000 persons. Today?s report is consistent with an economy which has come close to a standstill, but has not slid into a recession.

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This entry was posted on Sunday, May 4th, 2008 at 6:05 am and is filed under Forex Market View. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.