Posted on 10/04/2023 8:25:24 AM PDT by Kaiser8408a
The US is experencing a slow down.
The massive Federal government and Federal Reserve Covid stimulus has worn out and we are left with a sagging jobs report and soaring credit card delinquencies.
After ADP’s reports printed almost perfectly in line with BLS last month (+177k vs +187k), all eyes are on today’s print, which was expected to decline to +150k. Instead it plunged to just +89k – that is the lowest jobs addition since Jan 2021.
Credit Card Delinquency rates at small banks have reached 7.51%, the highest level ever recorded.
(Excerpt) Read more at confoundedinterest.net ...
“Well, this is ... this is ... this is actually ... I mean ... this is good news.”
— The Media
Does ADP also adjust the reported level of jobs of prior months?
They revised prior month up to 180k
So...180 down to 89. That’s quite a drop.
Wasn’t the news yesterday that the market went down due to both bond rates and the higher than expected job openings?
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