US Jobs Data ‘Steady as It Goes,’ Says BlackRock’s Rosenberg

BlackRock portfolio manager Jeffrey Rosenberg said the April US jobs report presents a trade-off between a strong headline payroll number and weakness in income. The commentary is a mixed read on labor-market conditions rather than a clear positive or negative surprise. Market impact is limited, though it may influence rate and growth expectations at the margin.

Analysis

BlackRock portfolio manager Jeffrey Rosenberg said the April US jobs report presents a trade-off between a strong headline payroll number and weakness in income. The commentary is a mixed read on labor-market conditions rather than a clear positive or negative surprise. Market impact is limited, though it may influence rate and growth expectations at the margin.