NFP Results and latest US unemployment rate

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Non Farm Payrolls came in at 661k. It was below forecast of 800k to 1 million.

The bigger sectors with larger job gains are:

-       Leisure/Hospitality: 318k

-       Retail: 142 k

-       Healthcare: 107k

This could be indicative of reemployment of staff that were laid off due to the pandemic.

The unemployment rate was at 7.9% - although deemed high, it’s positive news as it’s the first time it has been under 8% since March. 

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