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Jobs Report Blows Through Estimates, Wage Growth Solid, Unemployment Rate Sticks At 48-Year Low
Ok, it's time for October jobs.
The setup here was already interesting and it's made even more so b
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Compare the line of best fit slope of the curve between the lead ups to the 2001, 2008 recessions and the present. You will notice a revision downwards. Perhaps the threshold at which the curve turns over is dropping every cycle as some other systemic changes occur in the background? Other parts of the world don’t have high inflation anymore either (Japan, parts of Europe) but are certainly still susceptible to recession and the economic cycle.
it is too bad that more pundits do not point out that employment is a lagging indicator. people get laid off well after a contraction has started.
this 3.7% rate and “news” that new claims are low are moot. structural changes to the economy and labor have made unemployment claims useless in a gig economy.
in one sentence, you say global ISM shows economic slowing…..but good numbers from a lagging indicator is supposed to drive the Feds decision making….no wonder the Fed is always behind.
How many millions of jobs did Navarro expect? 🙂
that was one of my best and most under-appreciated jokes ever.