Jobs Report

[the909]

Little more revealing than one steel mill that may or may not happen.

9,000 mfgr jobs

What the experts say, not PT not 909, but the real experts:

“labor market remains resilient, but it is not accelerating. Hiring is subdued, layoffs remain remarkably low, and month-to-month payroll figures are likely to keep sending mixed signals. The underlying story is still a low-hire, low-fire labor market.” Mixed bag overall, resiliency is good not accelerating is not good.

The good news: “Ultimately, today’s report is an ideal outcome for financial markets. Both the stock and bond markets should take solace from the Federal Reserve not needing to aggressively tighten financial conditions to slow down an overheating economy,” Camporeale added.

[BigBalls]

It’s a weak jobs  report that missed expectations by a lot. 29,000 jobs vs 90,000 expectation’. Wait until the revision in about 60 days. The 29k will go negative.
But that is actually good news. Another rate hike is unlikely after this poor jobs report. I’m not vulnerable to rate hikes in fact I benefit some, but many people I know are getting crushed by rates.

Wage growth also slowed to .1% while inflation rose to 3.4%. I think inflation is higher than that just based on food and energy costs. The 3.4% is not a real number in my opinion. This administration doesn’t lie right?

the unemployment rate ticked up to 4.2%, and July and August payroll numbers were revised downward. Jobs are treading water.

 

Look at the bright side, my stock portfolio jumped on the news of this weak tit jobs report.

https://finance.yahoo.com/economy/article/weak-jobs-report-is-yet-another-headwind-for-trump-and-republicans-ahead-of-midterms-151245705.html

 

• This reply was modified 1 week, 1 day ago by BigBalls.
• This reply was modified 1 week, 1 day ago by BigBalls.
• This reply was modified 1 week, 1 day ago by BigBalls.

[Author]

Posts