The US labor market beat expectations in the latest jobs report, adding 254,000 jobs compared to economists' predictions of 150,000. Jefferies Senior U.S. Economist Thomas Simons joins Market Domination to analyze these figures.

Simons attributes the job gains largely to seasonal adjustments, such as teachers returning to work in the fall. He notes a shift in hiring patterns compared to pre-pandemic times, explaining that seasonal upticks in job hiring has seen fewer individuals being released than pre-pandemic, which "ends up having an outsized impact on the headline print."

Simons also emphasizes the preliminary nature of these figures, noting that only 62% of companies responded to the government's employment survey and revisions are on the way. For more insights on how these revisions might affect the overall employment picture, watch the full video above.

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This post was written by Angel Smith