Posted on 10/06/2023 6:24:23 AM PDT by ChicagoConservative27
The US economy added 336,000 jobs in September — a surprising surge that raises the risk that the Federal Reserve will further tighten interest rates to tamp down inflation.
The blowout number was nearly double the 170,000 jobs economists had expected, and marks a sharp increase from the 187,000 jobs gained in August, according to fresh data released by the Bureau of Labor Statistics on Friday.
The report also showed that wages increases were smaller than expected and the unemployment held steady at 3.8% — slightly above the 3.7% forecast and even with the jobless rate in August, which had been up slightly from 3.5% in July.
(Excerpt) Read more at nypost.com ...
There is an interesting Twitchy thread with a break-down of the job numbers.
“Deet-filled thread takes DEEP DIVE into September jobs report and WOW it’s so much worse than we thought”
Thanks! That was a great breakdown of what’s going on. I was surprised that 150K jobs were part time and another 85K jobs were government. Plus losing more full time jobs is the worst part along with workforce participation!
https://www.retaildive.com/news/chapter-11-bankruptcy-filings-soar/695590/
“Chapter 11 filings by businesses soar 61% so far this year, report finds”
“Inside Today’s Jobs Report: 885,000 Full-Time Jobs Lost, 1.127 Million Part-Time Jobs Added, Record Multiple Jobholders”
https://realinvestmentadvice.com/fund-flows-and-bond-yields-two-different-stories/
“Fund Flows And Bond Yields. Two Different Stories”
Manufacturing data is the only manufacturing this country does anymore. Business is good.
Because that 1.86% mortgage might very well be "renegotiated" to "fair market rates" by government edict in order to save the banks. It would be called "a necessary sacrifice to fight inflation in these difficult times".
"No man's life or property are safe while the legislature is in session".
(Mark Twain)
Tryst but verify...
As usual, we lost full time jobs and gained part time jobs, according to the A9 table. This is what passes for a “surge” under Biden.
“1.86% mortgage might very well be “renegotiated” to “fair market rates” by government edict in order to save the banks.”
As we know .gov makes up the rules as they go along so there are no guarantees.
The most likely outcome is the tried and true bank bailout by the Fed—2008 version.
The Fed just buys the bad paper from the “bad bank” and then creates a squeaky clean “good bank”.
Rinse and repeat every decade or so....
They got this.
:-)
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