Duh. It’s the unofficial end of summer. Kids go back to school.
4th quarter normally isn’t a hiring period other than the short term, part time seasonal work.
Perhaps the BLS should’ve skipped release data altogether, since the end of summer is a non-recurring event that happened only this year.
“I just want to say here, private payrolls coming in. The expectation was 75,000, we got 38,000. And there was a loss of 16,000 jobs in government” Cheryl Casone followed before tossing to Charles Payne. “But again, you know, that 22,000 number, Charles, it’s a weaker-than-expected number, and these revisions are pretty brutal.”
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