The August Payrolls report comes in a little light (142k) vs. expectations of 161k
You can tap the image for the full BLS report:
Here is the graphic included in an NFTRH+ update yesterday. It shows the estimate and also notes a couple of Fed jawbones set to eat their mics today.
I am going to take the liberty of wiping that grotesque smile off of Hazel’s face, even though the lagging stuff that she depends on is doing all the heavy lifting, as usual. I just get sick of seeing her smiling mug month after month.
Here is the sad picture of a late stage consumer society depending on lagging, embedded services (construction is a knock-on of that, not a productive segment) while a leading segment, Manufacturing, goes deeper into recession. Oh, and the cherry on top? Why, there’s Government in there hiring aggressively, as has been the case for many months (with April the lone exception). This Government hiring binge is unprecedented, in my experience.
As for the unemployment rate, it was stable last month but folks, this is a bottom and upturn in this late stage economic cycle. Screw Hazel, employment appears headed for the dumper.
For “best of breed” top down analysis of all major markets, subscribe to NFTRH Premium, which includes an in-depth weekly market report, detailed market updates and NFTRH+ dynamic updates and chart/trade setup ideas. Subscribe by Credit Card or PayPal using a link on the right sidebar (if using a mobile device you may need to scroll down) or see all options and more info. Keep up to date with actionable public content at NFTRH.com by using the email form on the right sidebar. Follow via Twitter@NFTRHgt.
