August 21, 2024
Kamala Harris’s updated truly lousy jobs report and stock market hysteria, today
By Victoria White Berger
Really, we just need to alert readers to this “development” (not really) yesterday and overnight, from Bloomberg:
Fed Confronts Up to a Million US Jobs Vanishing in Revision
US job growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates.
Goldman Sachs Group Inc. and Wells Fargo & Co. economists expect the government’s preliminary benchmark revisions on Wednesday to show payrolls growth in the year through March was at least 600,000 weaker than currently estimated — about 50,000 a month.
So that’s Bloomberg this morning. We’d like to know which “economists” are downplaying the Biden-Harris feints from labor on what our jobs are doing, and where they are going.
We already know that any “gains” in jobs, for years now, has been because of part-time hires, federal hires, and illegal migrant hires. The Labor Department is not forthcoming on these realities, either.
The Business Times offers this analysis vis-à-vis implications for any change in interest rates precipitated by a more honest picture:
US JOB growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates.
Goldman Sachs Group and Wells Fargo economists expect the government’s preliminary benchmark revisions on Wednesday (Aug 21) to show payrolls growth in the year through March was at least 600,000 weaker than currently estimated – about 50,000 a month.
While JPMorgan Chase forecasters see a decline of about 360,000, Goldman Sachs indicates it could be as large as a million.
more
https://www.americanthinker.com/blog/2024/08/kamala_harris_s_updated_truly_lousy_jobs_report_and_stock_market_hysteria_today.html
