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‘Solid’ US Jobs Report Is Optical Illusion
The US economy added more jobs than expected last month, and you can thank state and local governmen
Did we need more government?
You enjoy public goods and services more than you engage with the private sector, you just don’t realize it.
Bro that’s woke CRT socialist ideology. You need to wean yourself off that fake lived experience and become a self reliant MAN WHO DEFENDS FREEDOM.
I think this is the first time I’ve ever seen H referred to as “bro”.
I guess your publication has finally reached the finance bros. Yay….
I get recognize the sarcasm now that I’ve read the other comment.
Yeah, definitely sarcasm there.
Of the total 147K, 58K is healthcare and social services, and 73K is government (state and local). How unproductive [imagine drippy sneer here].
A little color from a regular person: assuming teachers are categorized as state government employees, many teachers change jobs this time of year, creating the appearance of job gains. I suppose some new teachers are joining the workforce but the data on people entering the teaching field suggests that is not a robust pipeline of new worker bees. Also, many nursing undergrads are entering the workforce right now, including my niece and everyone in her graduating class. They are all getting scooped up. So prob some seasonality to the healthcare contribution, though not sure if that’s accounted for in their made up guesstimate.
State and local govt specifically education was a big increase. That is likely a seasonal adjustment error. The fomc is going to sleepwalk us into a slowdown.
The report was below average.
The fomc with solid support from the Trump administration, you must mean.
H-Man, once Powell sees the NFP print in the low 5 digits or below, he will move the rates down while navigating the tariff chop suey.