Good news is good news.
For comparison/contrast: The annual inflation rate for the United States is 7.7% for the 12 months ended October 2022.
For comparison/contrast: Private employment in October was 131 million (so employment grew about 0.1% for the month or about 1.2% for the year.)
On top of all that, my pensions increased by 8.7% this year. I just want to thank all the fragile voters for their creepy Orange Obsession making my checks worth more than theirs. About time those frothing idiots did something right by putting themselves in their place. 
The market (Open 20 minutes so far today)
cannot decide if good news is good news or if good news means Powell is going to feel free to raise rates.
Last couple years have been the best job market I’ve ever seen. Incredible, once-in-generation opportunities to upgrade careers.
Probably the first economic break that Bush-era kids have gotten. Hopefully it lasts a little longer.
263,000 jobs added in November according to a release at 8:30 this AM.
The stock market decided “That is inflationary, higher interest rates care coming” and dropped ~2%.
Since then, the market has been climbing slowly and net loss to the market is about 1%.
There is no doubt now. Economists of every stripe, type, flavor and political mindset agree that QE (worldwide) was overdone, and central banks (worldwide) were too slow to reverse course.
NOW it is a question of how much QT how fast?
Looks like market/jobs etc has adopting to inflation.
Not expert nor do I pretend to be one.
Inflation . . . if it exists as just plain old inflation and nothing more drives the market UP.
These days, because the Fed is (finally) responding to inflation,
every hint of inflation, including a strong jobs report ,drives the market up-and-down a little crazy, not straight up like normal.
Simple inflation means up, but maybe this time the Fed response will be
too-big/too-little/just right.
Make sense…for time being IMO inflation become normal. Which we might be at.
History shows when inflation is over ~5% (even if caused by a “temporary energy crisis”) is dangerous and harmful especially to people who work for a living.
History also shows that interest over 2.5% is difficult to contain, difficult to predict, so the Fed has said (many times) it wants to “tighten” until inflation is safely under 2%. Maybe that should be their goal, maybe that should not, but they have stated it many times.
Unless you receive wages or even social security in real time…you’re still falling behind. Thus the real reason why inflation devastates retirees and working class. Increase comes after goods they buy…and increases only bring em up temporary.
Meanwhile I see lumber prices had fallen below 400 per thousand.
General pattern, often (but not always) repeated:
Simple
inflationary boom then —> high interest rate, increased unemployment bust
Detailed
inflation leads to boom----> services and annual contract stuff like insurance and monthly bills are the last to rise----> Fed raises interest ----> commodities like oil and lumber start coming down ----> recession begins
Same thing one described in 2 steps, one described in 5.
