Economy adds more jobs than expected in August, and wage growth hits post-recession high [CNBC]
Prudential Financial, Inc. (PRU)
Last prudential financial, inc. earnings: 2/4 04:18 pm
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Source: CNBC
show chapters Long-awaited wage growth posted its biggest increase of the economic recovery in August while payroll gains beat expectations and the unemployment rate held near a generational low of 3.9 percent, according to a Bureau of Labor Statistics report Friday. Average hourly earnings rose 2.9 percent for the month on an annualized basis, while nonfarm payrolls grew by 201,000. Economists surveyed by Reuters had been expecting earnings to rise 2.7 percent, payrolls to increase by 191,000 and the jobless level to decline one-tenth of a point to 3.8 percent. The wage growth was the highest since April 2009. If we continue to see wage growth move higher, it puts the Fed in play for a fourth rate hike, absent tariff concerns, said Quincy Krosby, chief market strategist at Prudential Financial. I don't think this is going to be the beginning of a downturn in the market, but the fact is there had been other reports leading up to this suggesting wage
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PRU
Earnings
- 2/6/24 - Miss
PRU
Sec Filings
- 4/16/24 - Form 8-K
- 3/28/24 - Form ARS
- 3/28/24 - Form DEF
- PRU's page on the SEC website