Citibank says earnings growth will be the most important part of today's US payrolls report

Paramount Pictures/Youtube US non-farm payrolls, arguably the most important economic report around the world each and every month, will be released on Friday. However, rather than the level of payrolls growth or movement in the US unemployment rate, the most important part of the July release will be average hourly earnings, says Andrew Labelle and Andrew Hollenhort, economists at Citibank. “Soft inflation and solid economic growth mean that wages, not payrolls, remain the focus of the July j...