Posted on 11/03/2023 7:28:53 AM PDT by Kaiser8408a
The household survey shows employment collapsed by 348K, the biggest drop since the Covid shutdown.
As usual, historical data was revised massively lower, with the jobs change for August revised down by 62,000, from +227,000 to +165,000, and the change for September was revised down by 39,000, from +336,000 to +297,000. With these revisions, employment in August and September combined is 101,000 lower than previously reported. In total, 8 of the past 8 months have been revised sharply lower in what only idiots can not see is clearly mandated political propaganda designed to make the economy look stronger at first glance then quietly revise the growth away.
Bidenomics hurts so good? At least that is what Biden and KJP will say.
Soft Jobs Report Weakens Impetus for Fed Rate Hike in December. Translation? Weak jobs report = no more Fed rate hikes = falling interest and mortgage rates.
10-year US Treasury yield now down a whopping 40 basis points in the last three trading sessions.
How do you recession? B-I-D-E-N-O-M-I-C-S.
(Excerpt) Read more at confoundedinterest.net ...
This is a good thing right? I mean, at least these people will finally be able to spend more time with their families instead of slaving at a job for some rich greedy business owner...
Funemployment!
Maybe and Maybe Not. Stansberry Conference last month in Vegas pretty much poo pooed the idea of recession. Said people have tons of $$$$$$ just sitting in deposit accounts.
Funny, I heard people have their credit cards maxed out just to pay their bills. Experts, 180 degrees off from each other’s predictions.
Do they take in account for all jobs lost( non essential) from the pandemic in these numbers for jobs created?
We are in the midst of a genuine global reset, which started long before Covid.
The fake pandemic accelerated the process.
In fields and professions that are data-centered (insurance and finance are big ones) AI will continue to replace human workers. As workers leave or retire they won’t be replaced.
Even in fields that are not data-driven, AI has beneficial uses. The entertainment industry uses AI for simple-to-more complex writing tasks.
In order to not cause widespread panic (ironic because tptb love causing panic), we’ll see a gradual reduction in the overall availability of employment. Everywhere.
That’s why universal basic income is being pushed.
It’s the new normal.
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