by Chris Becker
The hinge upon which macro markets turn each month was well oiled on Friday night, with another strong US jobs report coming down as headline unemployment remains below 5%, beating expectations:
Total nonfarm payroll employment rose by 255,000 in July, and the unemployment rate was unchanged at 4.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, health care, and financial activities. Employment in mining continued to trend down.