Good Ship Lollipop sails on with a minor beat vs. expectations
You can read the report at BLS by clicking below:
I’d say that keeps the winning, yet ever creepy smile on Hazel’s face for now.
Here’s the breakdown that keeps her gainfully giddy.
While not in her wheelhouse, Education & Health services boomed. Ah, but #2 is Leisure & Hospitality services. Then we have Construction, which is an add on to the services economy, Professional services, a pop in Manufacturing, which some graphs we reviewed in NFTRH 772 implied might come about as NY Fed and Philly Fed each showed a little bounce in expected activity (possibly aided by the weaker USD into mid-July).
All in all, the Good Ship Lollipop sails on and the “soft landing” brigade is not yet proven wrong. The unemployment rate ticked up and the media is making a big deal about it. But I don’t think it is overly material at this juncture.
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