The payroll number did not just beat. It reset the tone. 130,000 vs. 65,000 expected, with a 35,000 whisper. 79 of 80 economists leaning the wrong way. Unemployment and underemployment are edging lower. For all the statistical fog around birth-death adjustments and seasonal quirks, the core message was unmistakable. The labour market is not cracking.
Source: https://www.fxstreet.com/news/japan-producer-price-index-yoy-in-line-with-forecasts-23-in-january-202602112350
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