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MNI BRIEF: Fed Jobs Model Sees Notably Slower Hiring In July

(MNI) Washington
(MNI)

St. Louis Fed's Coincident Employment Index registered only a modest employment gain.

U.S. employment may have notched a "very modest" increase in July, according to a St. Louis Fed analysis of real-time data from employee scheduling software provider Homebase, bank economist Max Dvorkin told MNI.

The St. Louis Fed's Coincident Employment Index "shows a very modest increase, a notable difference with the strong upward trajectory since the beginning of the year," Dvorkin said. It is predicting a positive employment gain of 377,000, not seasonally adjusted, but an increase of only 20,000 seasonally adjusted for the month. The figures correspond to the BLS's household survey.

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U.S. employment may have notched a "very modest" increase in July, according to a St. Louis Fed analysis of real-time data from employee scheduling software provider Homebase, bank economist Max Dvorkin told MNI.

The St. Louis Fed's Coincident Employment Index "shows a very modest increase, a notable difference with the strong upward trajectory since the beginning of the year," Dvorkin said. It is predicting a positive employment gain of 377,000, not seasonally adjusted, but an increase of only 20,000 seasonally adjusted for the month. The figures correspond to the BLS's household survey.

Keep reading...Show less