Posted on 11/01/2024 5:40:20 AM PDT by Oldeconomybuyer
Job creation in October slowed to its weakest pace since late 2020 as the impacts of storms in the Southeast and a significant labor impasse dented hiring plans.
Nonfarm payrolls increased by 12,000 for the month, down sharply from September and below the Dow Jones estimate for 100,000. It was the smallest gain since December 2020.
The unemployment rate, however, held at 4.1%, in line with estimates.
(Excerpt) Read more at cnbc.com ...
To be revised lower later……
Mostly impacted by Harris.
Can’t count all the Illegals getting cash under the table ,that pay NO TAXES
Unexpected.
Hurricane Kamala Joe.
Wow.
The ADP number was fine. Of course, that is base on real payrolls. The BLS number comes from surveys.
Gives you an idea of how accurate polls are these days.
We ALL need to be prepared for the economy to change IF Trump wins the election. While prices of petroleum will go lower I am confident the rest of the economy is way overdue for a recession.
We also need to prepare for CIVIL UNREST just like we saw before in the BLM riots. This means you need to be a prepper even if you never have been before. There are Freepers that have been doing this for years. This is more than having a couple weeks of food in your closet. You need to have CASH. US dollars on hand. You need to have a two month supply of medicines. You need to have WATER or a way of purifying water.
Just to show you that I have put my money where my mouth is. I sold ALL of my stock based mutual funds in July. With the exception of a solar ETF and the Matthews China Fund. Which are both significantly below what I paid for them four years ago.
The yield curve has inverted again. This has been the signal of every major recession since 1900. When job losses tick up we will be in the recession. The stock market could hang on for another month or so, but you want to be ready to sell everything at a moments notice.
My other reasoning is I believe they will want to crash the economy if Trump wins. Which it looks more and more like he will. They have been propping up the economic numbers to get Biden/Harris elected. IF Trump wins, they will try to do anything possible to keep Trump from cleaning out the Deep State. They will do anything to stop Trump. Even crash the economy of the world.
The unemployment rate, however, held at 4.1%.
Biden Harris trade mark still around.
Just exactly what incumbents want to see on the Friday before Election Day.
I was going to ask if this was REAL jobs being added or just some Democrat rearrangement of employment.
Trump is going to have a lot of work to do.
Those 12,000 workers were demolition crews to tear down all of the businesses who hung it up and closed down permanently.
Due to the hurricanes?! Oh brother. No.
Something is always impacting the economy, They are called people, and when you use the media to scare them, to keep yourselves in power or to grab more power, they get afraid and stop spending money or if you drive up the price of energy and tank the economy they stop spending money on non essential things. A collection of idiots are in Washington DC. Term limits on the house and senate, please.
They have also revised totals for earlier months downwards.
They were just missing an apostrophe...
From what I see the Hurricanes added a lot of jobs to clean the mess up.
Well played sir!
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