Weak non farm payroll report dragging down US stock market crash? Yellen reassures: The United States is still on an economic soft road
楚一帆
发表于 2024-9-9 11:53:39
150
0
0
After the slightly weak performance of US non farm payroll data last Friday, the three major US stock indices all fell on Friday, indicating market investors' concerns about this.
Last Saturday Eastern Time, US Treasury Secretary Yellen attempted to reassure the public and investors, stating that the US economy remains strong and is still on the path to a soft landing, and the "red light" of recession is not flashing.
The US economy remains strong and stable
The US August employment data released last Friday was slightly lower than expected: the non farm payroll, which measures US job creation, increased by 142000 people in August, lower than the Dow Jones forecast of 161000 people; The unemployment rate has dropped to 4.2%, which is in line with expectations.
More noteworthy is that the employment data for July was revised down from 114000 to 89000, while the data for June was revised down from 179000 to 118000. Over the course of two months, a total of 86000 new jobs were added.
This has once again raised concerns about a slowdown in the labor market. The S&P 500 index fell 1.73% last Friday, with a cumulative drop of 4.25% last week, marking the largest weekly decline since March 2023. Meanwhile, the Nasdaq has been falling for two consecutive weeks, with a cumulative drop of 5.77% last week, marking the largest weekly decline since January 2022.
Regarding this, Yellen said at the Texas Forum Forum in Austin, "We have seen a decrease in enthusiasm for recruitment and job vacancies, but we have not seen meaningful layoffs... I am currently concerned about the downside risks in employment, but I believe that what we are seeing now, and I hope we will continue to see, is a good and stable economy
Yellen said that although the current employment growth has slowed down compared with the "recruitment frenzy" when the United States reopened after the COVID-19 epidemic, the economy is "deeply recovering" and "basically in a state of full employment".
The United States is on the road to a soft landing
In Yellen's view, the August non farm payroll report is not without highlights. Firstly, the unemployment rate has slightly decreased to 4.2%, followed by higher employment growth in August compared to July.
After the data was released on Friday, Yellen quickly commented that:
We believe that adding 142000 new jobs per month is a very healthy and sustainable growth rate, which is also what we hope to see. She added that by historical standards, the unemployment rate of 4.2% is still quite low.
Yellen believes that the August non farm payroll report confirms that even if the labor market slows down, it is still healthy. She also expects that the job market will not further weaken. "If job growth stabilizes within this range, I would be very satisfied," she said
In her speech on Saturday, Yellen further mentioned, "For the United States, the various indicators we will monitor - whether it's asset valuations or good leverage levels - look good, and I haven't seen any red lights flashing
Yellen said that the United States is on the path of a soft landing: "It's amazing to be able to meaningfully lower inflation rates like we do. This is what most people call a soft landing
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- Economists get slapped in the face! Yellen: A soft landing has been achieved, and pessimism is unfounded
- Xiaomo: The Fed's potential 250 basis point interest rate cut this year will help achieve a "soft landing" for the economy
- Yellen: US inflation control is good, and there are no signs of a change in the "soft landing" path
- Institution: The US stock market is still in the Goldilocks stage dominated by expectations of a "soft landing"
- Has "soft landing" changed to "no landing"? Understanding the New Underlying Logic Behind the New High of US Stocks in One Article
- Can AI and M4 chips combined with Apple's new iPad change the sluggish sales situation?
- Two weeks! Recession panic gives way to soft landing expectations, can the US stock market 'turnaround' continue
- Are you here to take another breath? New Federal Reserve News Agency: Cutting interest rates does not guarantee a soft landing
- The voice of the Federal Reserve's "dove" keeps echoing! The US economy is ready for a 'soft landing' and supports further interest rate cuts
- McDonald's net profit in the third quarter decreased by 3% year-on-year. Same store sales in China decreased, and the performance in the English and French markets was weak
-
随着“银十”结束,各家造车新势力都交出了一份亮眼的成绩单。 理想领跑10月新势力交付榜,鸿蒙智行重回4万辆,零跑、深蓝、极氪、小鹏等单月交付量均创新高,岚图、阿维塔、智己等实现破万,但哪吒却消失在 ...
- fanadam
- 1 小时前
- 支持
- 反对
- 回复
- 收藏
-
【科技记者古尔曼:苹果计划于12月第一周发布iOS 18.2系统更新 带来更多人工智能功能】科技记者古尔曼透露,苹果计划于12月第一周发布iOS 18.2系统更新。iOS 18.2将为iPhone 15 Pro机型和所有iPhone 16机型带来更多 ...
- cristianna
- 昨天 17:32
- 支持
- 反对
- 回复
- 收藏
-
为期超七周的大罢工终于落下帷幕。 当地时间11月4日,波音美国西海岸工厂工人们就改进后的合同提案投票。 随后,代表着波音超过33000名西雅图地区机械师的IAM工会经表决,以59%的同意票决定接纳波音提 ...
- cristianna
- 4 小时前
- 支持
- 反对
- 回复
- 收藏
-
近日,爱立信中国区总裁方迎在接受《经济参考报》记者采访时表示,5G技术在全球范围内得到了迅速发展,但面临商业潜力未能充分挖掘、网络运营难度较以往更高两大挑战。因此,运营商在继续5G网络部署的同时,应关 ...
- blueskybb
- 昨天 15:05
- 支持
- 反对
- 回复
- 收藏