Surprise rebound in US jobs

08 June 2020

Last Friday's unprecedented bounce in US non-farm payrolls sent stocks soaring and prompted the question: are we seeing a V-shaped recovery just weeks after states began re-opening? With more than 2 million jobs added to the American economy - especially in hard-hit sectors like hospitality, leisure, construction and retail - there are certainly signs of a rapid comeback, although the final numbers are likely to be revised downwards.

  • The strong US data was one bright glimmer of hope last week alongside encouraging trade figures from China and a German change of heart on fiscal stimulus
  • Whether the world experiences another upsurge in coronavirus cases continues to be a key question over the coming months
  • The rebound suits Goodbody portfolios, where equity exposure is mainly in quality growth stocks 
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