Fuck yeah.
Last month we added 292k new jobs. Granted, many of those jobs are burger flippers at Wendy’s; but who’s looking at the details aside from me and a few others?
Unemployment rate stands at 4.9%, a little higher than what Trump is polling at in a Reuters poll.
“Solid labor markets mean households will be in good shape, incomes will be OK,” Michael Gapen, chief U.S. economist at Barclays Plc in New York, said before the report. Gapen also said the Fed probably will raise rates in September if hiring remains strong.
Labor participation rate, which is a stat that has been maligned as horseshit, came in at 62.8%, up 0.1%.
‘Merica.
Wage growth rose ahead of forecast, up 0.3% to $25.69.
The net result is a run up in futures. Markets should climb by triple digits at the open. Short dated yields are spiking, indicative of a possible Fed rate hike. That has to be on the table once again. If so, the markets have to be okay with it, being that the economy is adding 250k jobs per month and Q3 GDP is trackI got +3.7%.
If the Fed can’t hike under these conditions, they’ll never hike.
On paper, this is bearish for gold, short dated bonds, and bullish for stocks.
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The levees will break unleashing the flood waters after the election.
Obama met with Yellen and all of a sudden everything is much, much better both in the markets and in the numbers released by the government.
Man, they must be really really smart!
Anybody even paying attention to this number has to be crazy. Leading up to November there can be NO bad news
U-3 is a BS number anyway. Not to mention in a month when they released revised numbers. I always check Shadowstats for unemployment info.
precisely
Can’t help but wonder how many of these job numbers are double counted from people who already have a job becoming uber/amazon/favor drivers on the side or are just that…
LOL. Unemployment beating Trump in polls. The guy is a fucking walking disaster. I’m republican, but WTF…