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Employment Report (June 2016)

The 287,000 surge in non-farm payrolls in June suggests that the sharp slowdown in the preceding months was nothing more than ablip. Fed officials will want to see evidence of a more sustained recovery inemployment growth over July and August as well. But as the panic in global financialmarkets following the UK Brexit vote continues to subside, today’s data support ourview that the next US rate hike could still be in September.

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