#payroll

Good morning, everyone.

Today, the most important data on the US labor market was released. The long-awaited payroll came in below expectations, but the unemployment rate fell.

The point that I have been warning about as most relevant, the growth in hourly wages in the United States, exceeded projections. This may be a reflection of the policies of deporting illegal immigrants implemented by Donald Trump.

We must remain vigilant, as this scenario may generate inflationary pressures in the future. Overall, the data was mixed.