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Jobs And Jay
It's the first week of a new month and you know what that means: Top-tier US macro data. Lots of it.
The big event's obviously payrolls. Economists expect to hear the US added 146,000 jobs in September.
Assuming consensus and, naively, no revisions, the three-month moving average for the NFP headline would move up to 126,000. But there will be revisions. And, as market participants were reminded following the last US jobs report, the revisions can be more meaningful than the headline for monet
I’m still more concerned about how the fiscal side of the government plays out.
At this junction, a certain amount of austerity makes sense. But you wouldn’t want the spending cuts/tax hikes to trigger a recession either… not when you also would like to redirect some federal spending towards the militaro-industrial complex/the relocation of elements of the supply chain in friendly territories…
Americans won’t elect anyone supportive of fiscal responsibility.
“Never mind if those openings are a good fit for the people who could ostensibly fill them. And vice versa.”
Well, something isn’t quite right:
https://www.wsj.com/lifestyle/careers/young-american-men-lost-c1d799f7?st=7BGhFs&reflink=article_copyURL_share