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This wasn't a monster US employment number
From scottgrannis.blogspot.com
This morning the market was apparently surprised by a stronger-than-expected jobs number. Private payrolls rose by 223K in September, vs. an expected gain of 125K. Some called it a "monster" number. From my perspective, however, nothing changed at all. Private sector jobs are growing by about 1.3 to 1.4% per month, as they have been for the past few months. This is moderate growth, probably enough to deliver overall growth of 2% per year or so. A nothing-burger. Chart #1 shows the year over year change in private sector jobs, the only ones that really count. The big story, really, is the huge deceleration in growth ... (full story)
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- Oct 5, 2024 5:17am Oct 5, 2024 5:17am
- rookiekan
- | Joined Nov 2010 | Status: Member | 6 Comments
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- Posted: Oct 5, 2024 4:50am
- Submitted by:Category: Fundamental AnalysisComments: 1 / Views: 5,539
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