US Labor Market Roars Back To Life With Blockbuster February Gain
The US economy added 379,000 jobs in February, the government said Friday. Economists were expecting just 198,000.
While certainly welcome, the blockbuster print was sure to raise additional concerns about the extent to which injecting more stimulus into the economy risks an overheat.
The anomalous swings seen during the initial lockdowns and ill-fated summer reopening push make it difficult to appreciate the magnitude of February's jump on a visual inspection. But make no mistake, the headlin
Here we go again. Yields up stocks down…
Good synopsis. UST bond yields want to go up. They will continue to do so, until credit gives up the ghost. That is likely not a present concern.
This is clear as mud. Did we get an improved jobs report because the recovery is starting or because we are reopening too quickly and the economy will pull back in Q2? How many small service providers are making their last, desperate attempt to survive and how many are in a strong financial position going forward? The hospitality sector saw 355,000 new jobs and represented most of the hiring; will these jobs still be there in Q2 if covid deaths increase? From the CDC: “Seasonal influenza activity in the United States remains lower than usual for this time of year.” What happens when people quit wearing masks and taking precautions? More covid? More influenza?
On Bloomberg, the necessity of another covid stimulus bill is being questioned. Black unemployment jumped from 9.2% to 9.9% What does Joe Manchin think of this jobs report? What will the Fed do? Rick Rieder seems to want to dictate the Fed’s behavior. (Do you wish Janet Yellen would take over communication duties for the Fed (because of Jerome Powell’s permanent “laryngitis”)?) How long will Saudi Arabia maintain reduced production before opening the floodgates to squash any nascent recovery in fracking?
I’m looking for the crystal ball and I know H sees more clearly than do I. 😉