Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

ZERVOS: This Was The Perfect Jobs Report For The Bulls

Joe WeisenthalSep 5, 2014, 18:32 IST

Here's one take on today's Jobs Report: Jefferies strategist David Zervos says the jobs report is "perfect" for risk assets (like stocks).

The reason? There's no pressure on the Fed to tighten sooner than necessary.

Here are the key details, as he sees them:

A well over 100k miss on payrolls when you factor in revisions
Durable goods and retail trade were each 30k lower for August vs July
No sign of meaningful wage growth
The U6 rate fell 0.2%, but U3 was unchanged
The lower U6 rate, and consequent reduction in "slack", was offset by a slack increasing lower participation rate.