Jobs Report Disappoints, As Hype Proves Misguided

Jobs Report Disappoints, As Hype Proves Misguided

The US economy added 49,000 jobs last month, the first nonfarm payrolls report since Joe Biden assumed the presidency showed. That was less than half of the 105,000 consensus expected, but still marked a reprieve of sorts from December's dour report, which betrayed the first decline since April's apocalyptic lockdown purge. The headline print will likely be viewed as a disappointment. Data out earlier in the week seemed to hint at a better-than-expected report. ADP was an upside surprise, for
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3 thoughts on “Jobs Report Disappoints, As Hype Proves Misguided

    1. Agree, and for the US to have any other than a uneven recovery with even greater wealth inequality and greater populist resentment than pre-Covid, the Biden administration is going to have to push through another $XX? BN of spending on things like green energy, infrastructure, health care, education, etc, which will have to be at least partially funded by tax increases as a political reality (I agree with H that its not economically required).

  1. Ya’ll need to go back 60 years to find a lower participation rate, but happily, the 10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity around then was about the same, before it crashed into the “Reagan recession” [coupled with budget cuts, which were enacted in 1981 but began to take effect only in 1982, led many voters to believe that Reagan was insensitive to the needs of average citizens and favored the wealthy].

    I’m sure it’ll be different this time with Robinhood!

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