October Payrolls report: Slowly I turn…
Here is the report from BLS:
I’ve been waiting to wipe that spine chilling smile off her face. Well, what do we have here? We have Hazel’s Leisure and Hospitality services tanking relative to its previous standing (ticking negative, during leaf peeping season, no less). Professional & Business services got bombed as did Manufacturing, the leading indicator to the failures of the other segments. Education & Health services are baked in, pretty much. And oh look! Without the heroic and continued unprecedented hiring by Government, the report would have been negative.
And so to this point, at our symbolic if not literal time target (the election) we have our final tally on the election year’s hiring. You can see that our manufacturing base is in recession (not just in hiring) and government was the second most aggressive hiring entity after embedded Health services. That is not some economically helpful hiring, folks. But you didn’t need me to tell you that. That is (in my opinion) some “keeping up the appearances of the lame jobs data into the election” hiring.
Hazel = sad face. This economy is shitting the bed, slowly, and Unemployment is turning up, slowly.
Slowly I turn (“toin”)…
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