Posted on 10/06/2023 10:48:12 AM PDT by ChicagoConservative27
President Joe Biden will speak about the surprising September jobs report on Friday, October 6.
As Breitbart News reported, America added 336,000 jobs in September, while the unemployment rate stayed the same at 3.8 percent:
The much-better-than-expected surge in employment puts pressure on the Federal Reserve to hike again at its two meeting that starts on the final day of October. The Fed decided at its last meeting in September to hold rates steady to see how earlier rate increases are affecting the economy. Prior to today, the market was pricing in around a 20 percent chance of a hike at the next meeting.
(Excerpt) Read more at breitbart.com ...
Agreed.
That’s silly. They don’t do all the payroll in the country. Their number is partial. The jobs added/subtracted number comes from a survey every company files with the Labor Dept. It’s required.
The unemployment percent comes from a different survey. The Census Bureau on behalf of the Labor Dept. randomly calls 60,000 households every month and asks about the employment status of all adults in the household. Which is why sometimes jobs are added and the unemployment percent goes up.
The 60,000 household survey is considered a more immediate and accurate snapshot since the business survey tends to lag behind the household survey. After all, the household survey reflects the reality of self employed and small businesses. Eventually, the business survey tends to catch up to the household survey with a 6 month lag.
September jobs report is useless as long as inflation is taking more money out of the pockets of the working class.
Bidenomics is like a slow sinking Titanic.
And his other plans are working out like a 9/11 in slow motion.
Count on it
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