The economic reports were mostly positive for the week. The payroll report showed stronger than expected job gains and a reduction in the unemployment rate. The former was due to broad based job gains across several key sectors while the latter reflects, in part, a continuing decline in the participation rate. Nevertheless, job gains have averaged close to 200,000 per month over the past three months. Improvements in the labor force are giving consumers the confidence to take on more debt.
Stay informed. Subscribe to ACC's Weekly Economic Report.