PT trying to do damage control but not knowing exactly how to do it. Picks a useless and incomplete chart from a twitter post. How the fack does that dumb chart even begin to resemble a “deeper dive?”
Today’s job report is hitting like a bucket of cold water, along with downward revisions for May and June. Which are even bigger news. Layoffs are at their highest since Covid hit in 2020. The May and June revisions are bad too, we were given inflated reports at a level rarely seen before. May was revised from 144,000 to 19,000. What the fack? June revised to 14,000 from 147,000. Wow. Today’s jobs report will turn negative once the revision hits. Now watch Trump feed his base baby food from a jar with a pink spoon. “It’s a witch hunt, the economy is beautiful, here have some more carrot purée, open wide”.
The numbahs:
Just +73,000 job gains in July**
Healthcare +55,000
Social assistance +18,000
Retail +16,000
Finance +15,000
Hospitality +5,000
State gov't +5,000
Transport/warehouse +4,000
Construction +2,000
Professional and biz services -14,000
Federal gov't -12,000 (down -84,000 since January)
PT trying to do damage control but not knowing exactly how to do it. Picks a useless and incomplete chart from a twitter post. How the fack does that dumb chart even begin to resemble a “deeper dive?”
Today’s job report is hitting like a bucket of cold water, along with downward revisions for May and June. Which are even bigger news. Layoffs are at their highest since Covid hit in 2020. The May and June revisions are bad too, we were given inflated reports at a level rarely seen before. May was revised from 144,000 to 19,000. What the fack? June revised to 14,000 from 147,000. Wow. Today’s jobs report will turn negative once the revision hits. Now watch Trump feed his base baby food from a jar with a pink spoon. “It’s a witch hunt, the economy is beautiful, here have some more carrot purée, open wide”.
The numbahs:
Just +73,000 job gains in July**
Healthcare +55,000
Social assistance +18,000
Retail +16,000
Finance +15,000
Hospitality +5,000
State gov't +5,000
Transport/warehouse +4,000
Construction +2,000
Professional and biz services -14,000
Federal gov't -12,000 (down -84,000 since January)
Manufacturing -11,000
Local gov't -3,000
Information -2,000