Employment growth eased in August. Here is the full report from BLS: Employment Situation – August 2015
Growth continues to cluster in the services, as we have been noting for many months now. That’s back-end stuff, with no predictions on how long this ‘back-end’ can endure. Too many predictors have been dust binned as this cycle has ground on.
Meanwhile, manufacturing and mining have predictably lost jobs. *
* Thing 1 was predictable (for us anyway, back in July due to bearish moves in the Machine Tool industry) and Thing 2 only needs a review of long-term trends in metal (precious and industrial) prices to make sense.
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