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"The sustained increase in continuing claims looks like a warning sign of emerging labor market stress, as people who have lost their jobs are taking much longer to find new ones," said Ian Shepherdson of Pantheon Macroeconomics.

"The rising proportion of people who think that jobs are becoming harder to get, according to the Conference Board’s consumer confidence survey, tells the same story," he added.

Earlier this week, data from payroll processing group ADP showed that wage gains for those leaving their jobs for a different eased to 8.3%, the slowest since June of 2021, as the economy added a much fewer-than-expected 103,000 new hires over the month of November.

There's all these data points suggesting a deteriorating job market. Yet the official government numbers show the economy is producing huge numbers of new jobs. What could explain that? Any guesses what tomorrow's non-farm payroll number will be? I bet it will surprisingly show north of 200K jobs were created last month and lyin Biden will call a press conference to brag about it.

The market is north of 80% that Powell will be cutting rates in 2024.

That doesn’t really line up with resilient job market.

The explanation is they lie and will revise lower months later.

>> At present, however, the bizarrely resilient job market is making that task increasingly difficult, and as such relying on Treasury trading signals becomes correspondingly risky.

What’s bizarre about the job market is that it’s bifurcated between people with work ethic that have a burning desire for productive employment, and people who have seen that the “government” will take care of them with no effort on their part, and are betting that the government will continue to make their lazy lives a featherbed.

This is not good. It’s not sustainable. It does not contribute to building a stable, resilient society.

Economists expect November’s non-farm payroll report, due Friday at 8:30 am eastern time, to show a new gain of 180,000 new jobs, up from the 150,000 tally recorded in October but down from the five-month average of around 213,000.

Watch how many downward revisions there are for the October and September reports. Every month they report a number that surprises everyone but, oh yeh, the prior two months were revised downward tens of thousands of jobs