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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- The latest strength of the US labor force recovery in July was eye-catching, with the overall participation rate surprisingly rising from 62.58 to 62.81% for a new post-pandemic high in July, vs consensus for what would have been the sixth month at 62.6%.
- The prime-age group did increase a tenth back to June’s cycle high of 83.5% (and highs since 2001) but more notable moves came from a further increase in older workers and a sharp bounce in 16-24 year olds.
- Of particular note considering the prior reluctance of early retirees to return to the labor market, the +0.2pp increase in the 55+ cohort built on the +0.3pp in July for its highest level since Dec’22, even if the rate remains 1.5pps below its pre-pandemic level.
- Interestingly, this has been completely carried by women returning; the female 55+ rate has increased +0.9pps over the past two months to -0.8pps below pre-pandemic levels whereas the male 55+ rate is nearly unchanged at -2.5pps below pre-pandemic levels.
- One purely speculative driver for the male/female split behind such a move could be an improvement in childcare has freed up grandparents who were previously helping out.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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