July payrolls from BLS: +943k
Click image, get report…
The number is a little more than what the media says the markets expected, but all in all not a surprise.
Here is the graphical breakdown of monthly changes. Who is surprised that the Good Ship Lollipop is massively leveraged to its behemoth Services industries. Specifically, Leisure & Hospitality services.
Also, who is surprised that government is growing under a democrat admin? Some color on that… the growth was driven by local government education (Teacher’s union?), a big difference from bloated federal government.
Americans need their leisure I guess, after all that sitting on their butts binging re-runs and playing games during the pandemic. America is back out there, doing what America does. America’s shadow economy, Manufacturing, is still okay as is Transport. These two indicate a still stable economy from an earlier indicator POV.
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