Posted on 08/02/2024 6:40:30 PM PDT by anthropocene_x
The US labor market cooled significantly last month as unemployment unexpectedly rose, sparking fears of a slowdown across the world’s largest economy.
American employers added 114,000 jobs in July – short of the 180,000 additions expected by economists, and a marked decrease from the 179,000 added in June.
The headline unemployment increased to 4.3%, its highest level since October 2021, up from 4.1% the previous month.
Wall Street fell sharply following the official release. The S&P 500 declined 1.8% to a two-month low, as the technology-focused Nasdaq fell 2.4% and entered “correction” territory, having retreated 10% from the record high it scaled last month.
Biden acknowledged the US workforce was now “growing more gradually” in a statement which also pointed to inflation’s decline. “There’s more to do,” the president said, “but we’re making progress growing the economy from the middle out and the bottom up.”
(Excerpt) Read more at theguardian.com ...
Cameltoe’s Honeymoon looks like it’s about over.
Yeah, “unexpectedly”. 😒
Stagflation has been here, hidden by government spending and hiring. Even that had to end.
Uh - OOOOOOHHHHH!!
“last month as unemployment unexpectedly rose”
Unexpectedly? Leave it up to foreign libtards and this is what you get, just like at home.
>> Stagflation has been here, hidden by government spending and hiring.
I’m in a place where I can deal with the “stag”. It’s the “flation” part that worries me!
Biden has just decided to put 400 million barrels of oil back
into the SPR. He took just 100 million out about a month ago
to lower gas prices before the election.
Now prices are climbing again here.
It looks to me like the democrats have pretty much screwed
themselves into a corner where the gas prices will go up and
jobs will crater. The market may tank from here.
All just in time for the election.
Ouch!
Will the general public and LIVs know this from the MSM? Not a chance in hell.
I was suspecting the financial insiders were working hard to push Kamala for President.
Now, possibly, a big economic crash BEFORE November.
It will be ignored largely, and to the extent it may be mentioned it will be spun as a sign the economy is “stabilizing” under Harris’ “extraordinary leadership on the economy” - and besides which, it’s Trump’s fault...
Good thing Trump has all those college migrants at the ready! It will make the great tech replacement of the 90s look like a toddlers finger painting.
We’ve decided to delay all major purchases as the college grads of US citizens are replaced by his deals. The Covid lockdown prez.
If only the government ahole bureaucrats counted illegal alien invaders....
They’ll know it from looking at their retirement funds.
Wanna take a guess how many voting Americans do not have any retirement funds?
Beyond that, the stock markets have been artificially spiked upward the past 3+ years. Anyone with properly set up retirement assets has done quite well in recent years. Stop looking at the current snapshot. Typical Freeper move than tends to blow up in their faces.
Do you think SS will keep up?
It hasn't in the past, so why would it start now? Besides, most SS drawing Americans believe the Republicans will reduce their SS if they get control of the White House and Congress. You can thank the MSM for that.
As a current job seeker, I can tell you it has completely collapsed in the last three months.
“The Covid lockdown prez.”
At least you got the deranged bumpstock ban bug out of your ass.
I can see objectivity is not your strong suit. Duly noted...
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