You've done an excellent job at identifying and summizing both the numerical facts from the BLS report and the broader economic implications of the data.
A jobs recession, could have significant impacts on the economy. First, it could lead to decreased consumer spending and increased financial distress for working Americans, especially if inflation remains high. This could have a ripple effect across industries, leading to decreased demand for goods and services and potentially even higher unemployment rates.
Second, it could complicate the Federal Reserve's efforts to combat inflation. While raising interest rates might tame inflation in the long run, it could also increase unemployment, deepening the jobs recession.
This situation challenges us to balance fiscal responsibility with social justice, trusting in God's provision while also using our God-given abilities to address these complex issues. It's a time that calls for both practical wisdom and spiritual discernment.
Thank you, Peter, for presenting all of the best, most relevant and important data to show us the true picture! Once again, I gush at your amazing ability to find and analyze the pertinent factors. (And “Wall Street puking on the numbers” - LOL!)
Two questions:
One, looking at how more than a million jobs never even existed - holy smokes, how does the BLS get away with such incompetence which borders on fraud?
And two, Wall Street fell today, and is likely to fall further. The stock market crash of 1929 happened in October, after several warning drops in the weeks leading up to the Crash. I seem to remember something about October being an historically volatile month for stocks. Are you seeing any patterns that are particularly concerning?
Oh, a final geology matter. There has been increased seismic activity in the Rancho Palos Verde area near LA, with repeated ground movement large enough to be raising alarm. It may be nothing. But California’s economy is 10% of the US economy, so if the San Andreas fault line experiences the Big One, it’s another Great Depression for sure!
Today's jobs report is pure garbage. Manufacturing jobs are shrinking. Nearly 1 million more unemployed in August this year compared to August 2023. And missing the overall target by 18,000 from an already low 160,000 goal is pathetic. Our economy is wrecked.
But it's a good thing Kamala wants to tax us into prosperity!
You've done an excellent job at identifying and summizing both the numerical facts from the BLS report and the broader economic implications of the data.
A jobs recession, could have significant impacts on the economy. First, it could lead to decreased consumer spending and increased financial distress for working Americans, especially if inflation remains high. This could have a ripple effect across industries, leading to decreased demand for goods and services and potentially even higher unemployment rates.
Second, it could complicate the Federal Reserve's efforts to combat inflation. While raising interest rates might tame inflation in the long run, it could also increase unemployment, deepening the jobs recession.
This situation challenges us to balance fiscal responsibility with social justice, trusting in God's provision while also using our God-given abilities to address these complex issues. It's a time that calls for both practical wisdom and spiritual discernment.
Thank you, Peter, for presenting all of the best, most relevant and important data to show us the true picture! Once again, I gush at your amazing ability to find and analyze the pertinent factors. (And “Wall Street puking on the numbers” - LOL!)
Two questions:
One, looking at how more than a million jobs never even existed - holy smokes, how does the BLS get away with such incompetence which borders on fraud?
And two, Wall Street fell today, and is likely to fall further. The stock market crash of 1929 happened in October, after several warning drops in the weeks leading up to the Crash. I seem to remember something about October being an historically volatile month for stocks. Are you seeing any patterns that are particularly concerning?
Oh, a final geology matter. There has been increased seismic activity in the Rancho Palos Verde area near LA, with repeated ground movement large enough to be raising alarm. It may be nothing. But California’s economy is 10% of the US economy, so if the San Andreas fault line experiences the Big One, it’s another Great Depression for sure!
Today's jobs report is pure garbage. Manufacturing jobs are shrinking. Nearly 1 million more unemployed in August this year compared to August 2023. And missing the overall target by 18,000 from an already low 160,000 goal is pathetic. Our economy is wrecked.
But it's a good thing Kamala wants to tax us into prosperity!
That’s “tax us into prosperity with JOY”
If the ADP report is any guide, once the revisions are applied the miss will be by a good 60,000 jobs
Excellent report, but devastating article.
Thanks you, Mr. Kust.