“Private payrolls saw their biggest decline in 2½ years during September, a further sign of labor market weakening that compounds the data blackout accompanying the U.S. government shutdown.
Companies shed a seasonally adjusted 32,000 jobs during the month, the biggest slide since March 2023, payrolls processing firm ADP reported Wednesday. Economists surveyed by Dow Jones had been looking for an increase of 45,000.“
that is a terrible number, no questions about it.
looks like another fed rate cut is right around the corner.
problem is the Fed has two duties: keep unemployment down and inflation low. Currently unemployment is ticking up and inflation is still higher than optimal so drastic cuts in the rate are likely to raise inflation still further, thus the predicted 2x smaller cuts for the rest of the year which won’t actually do much. It’s a stagflation problem. We aren’t there yet but it’s peaking on the horizon. TLDR we’re in for a bumpy ride keep your financial powder dry.
Once the job market begins to contract (even a tiny bit)
that rate-of-contraction tends to snowball.
Let me repeat that.
Once the job market begins to contract (even a tiny bit)
that rate-of-contraction tends to snowball.
+++
If, for some reason that snowball effect does not happen, then we can say
the job losses this month are so small they are meaningless.
At the current rate (32,000 job losses per month), it would take 17.2 months for employment to drop all the down
to where it was when Joe Biden left office.
32,000 job losses in month, by itself is harmless.
But if the past is any indicator,
this might be beginning of something more serious.
In other words, the bad numbers in future reports are the Dems fault. These people are pathetic.
Leavitt: The Democrats may have permanently damaged the federal statistical system with October C.P.I. And jobs reports likely never being released and all of that economic data released will be permanently impaired
I’m starting to lean towards just letting Trump come up with the jobs numbers each month.
Trump: It was announced we have more jobs right now than we’ve ever had in the history of our country. Those are big numbers. It’s crazy. It’s a great stat. More jobs today than we have ever had in the history of our country.
When that Biden dude was president we had more jobs than we’ve ever had in history. EVERY SINGLE MONTH! It’s crazy! It’s a great stat! More jobs than we ever had in the in the history of the country - every month!
