Quote:
It was interesting that there wasn't even a minor dip in the Nonfarm Payrolls, which were 50% higher than expected. Apparently, the market has concluded that strong job numbers are not inflationary because the flood of immigrants is providing ample supply and keeping wages suppressed. Under the surface, full-time jobs keep failing, and black unemployment is at a two-year high. Also, all the new jobs appear to be part-time.
The conclusion is that there aren't any significant inflationary pressures in the jobs data.