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MNI Employment Insight - Jan'23: Mixed Report Sees CPI Next In Downshift Debate

US
  • Average hourly earnings provided the major dovish steer with both a downside surprise and large downward revisions...
  • ... but were somewhat offset by a resurgence in employment in the separate household survey driving the unemployment rate down to a joint multi-decade low.
  • The mixed nature of the report has meant differing takeaways from the fifteen sellside analysts reviewed in our report.
  • Instrumental for guiding the market to a 25bp or 50bp hike for Feb 1 will be Powell speaking tomorrow (Jan 10) before CPI on Thursday (Jan 12), with a potential last minute steer from the ECI on Jan 31.
  • FULL REPORT: https://marketnews.com/homepage/mni-us-employment-insight-jan-23-mixed-report-sees-cpi-next-in-downshift-debate

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