Nancy Curtin, chief investment officer of Close Brothers Asset Management, said the data was “resilient”.
“The US economy is continuing to motor along without the need for fiscal fuel, as Trump’s tax cuts, infrastructure spending and other manifesto pledges get off to a slow start,” she said.
“Economic performance isn’t so strong, however, that the Fed needs to worry about immediately tightening monetary policy aggressively.”
The majority of new jobs were created in professional and business services, where an extra 56,000 jobs were recorded, and in mining where an extra 11,000 people found work, but the retail trade saw big losses with 30,000 fewer jobs during the month.
