Posted on 02/02/2024 5:56:40 AM PST by bigdaddy45
The US economy added a stunning 353,000 jobs last month, far more than expectations for 176,500, pushing up all three major indexes Friday morning. The unemployment rate stayed at 3.7%.
While the numbers underscore the strength of the US economy, it remains to be seen if the data could push back the timeline for interest rate cuts, which markets were hoping would start in March.
Fed Chair Jerome Powell poured cold water on that notion Wednesday, saying there would be no rate cut that month.
The Fed is aiming to beat inflation by slowing the economy without triggering high job losses. But the labor market has so far remained impervious to the Fed's 11 rate hikes in a row, adding a healthy number of jobs every month and maintaining an unemployment rate of under 4% for close to two years.
(Excerpt) Read more at cnn.com ...
Maybe you should look. Things are going relatively well (economy wise. Everything else is a shit show). But its all on borrowed money. A reckoning is coming, and it won’t be pretty.
I call shenanigans
I retired as a design engineer with GE...I don’t need to look....
Not sure how that’s relevant to the conversation, but congratulations
BNGO spot on
Per the headline: No it didn’t. The government routinely lies regarding jobs reports.
Check the A9 table. As usual, we lost full time jobs and gained part time jobs.
You’re right. They revised the November numbers. They revised them upwards.
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