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NFP preview: Imbalanced labor market to remain a thorn in the Fed’s side?
Tomorrow brings another US jobs report, and based on Fed Chairman Jerome Powell’s press conference earlier this week, the US central bank still believes the US jobs market is “out of balance,” with far too few workers relative to the number of job openings. Will this finally be the reading that shows signals the tight labor market is easing? As the graphic below shows, traders and economists are expecting to learn that the US economy created nearly 200K net new jobs in January, and that the average hourly earnings for workers rose by 0.3% m/m, a development that would keep expectations for future price ... (full story)