NEW YORK ( TheStreet) -- Last week's main event for U.S. equity markets was the monthly Non Farm Payrolls report, which showed the economy added 169,000 new jobs for the period. This missed the market's consensus estimates of 180,000 but selling pressure in the S&P 500 was offset by a slight improvement in the unemployment rate, which dropped one tick to 7.3%.This is the lowest level since December 2008. But when we look at the details of the jobs report, some added negatives can be seen. The implications here could be massive, as this essentially indicates the Federal Reserve will have less room to maneuver policy, and begin tapering stimulus programs at its September meeting.
Jobs Figure: Worse Than the Headline Number
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