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3rd Feb 2023 15:55U.S., Weekly Monitor

  • The surge in January payrolls likely is due in large part to favorable weather; the trend is still slowing.
  • The rate of growth of hourly earnings has nudged up a bit; this likely won’t persist, but it looks bad.
  • With other January data also likely to enjoy a weather boost, a March rate hike now looks a strong bet.

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Keywords for: 6 Feb 2023 US Monitor

Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence