|Data for week commencing 29 July 2019|
The jobs report could not take Trump’s trade war escalation out of the headlines, with the Dow down over 300 points in early trade. However the jobs report did suggest that the tariff crisis is not KO’ing the US economy. That had to soften the negative blow from the President’s decision to slug the remaining $US300 billion worth of Chinese goods un-tariffed with a 10% tax.
Economists tipped July would bring 164,000 jobs and 165,000 showed up. But the big news was the 3.5% increase in wages, which was tipped to be only 0.1%!