The decline in US nonfarm payrolls (NFP) to 57,000, compared to the expected 114,000, along with a notable downward adjustment of last month’s figures to 129,000 from 172,000, indicates that job growth in the US has slowed and did not increase as much as previously estimated. Surprisingly, the unemployment rate dropped from 4.3 percent to 4.2 percent. The unemployment report paints a mixed picture, clearly suggesting a slowdown in momentum and a weakening in hiring. However, wage growth, coupled with the lower unemployment rate, implies that the labour market has not been severely impacted. This situation is likely ... (full story)