US market's problems are still there - Socgen

Kit Juckes, economist at Societe Generale offered a recap of the US jobs data.

Key Quotes:

"Steady as she goes after a brief wobble It has now been 71 months since we last saw a monthly fall in US employment, giving this economic recovery really good markets for durability if nothing else.?

"And in this long stretch of jobs growth, the average monthly gain has been 201,000, which happens to be very close to the average of the last year (204k)."

"A couple of bad months have been followed by a couple of goods months and the data are back on trend. The US economy's problems - soft productivity, lack of fixed investment, modest real income growth and worrying levels of inequality - are still there, but the economy is still growing."