Watching Jobs Data? Don't Waste Your Time, Says Major
Economists and policy makers will use the June jobs report to determine whether the strongest part of the economy slowed sharply even before concerns over global growth intensified, or if the labor market was merely hit by a temporary soft patch. Payrolls probably climbed by 180,000 in June, according to the median estimate of a Bloomberg survey of economists. That would follow a 38,000 increase in May that was the weakest since September 2010. HSBC Global Head of Fixed Income Research Steven Major discusses with "On the Move" hosts Guy Johnson in London and Caroline Hyde in Berlin.