The December Payrolls report keeps Hazel gainfully in good cheer
Well, there goes my theory that the Biden administration would stop pulling out all the stops to keep up economic appearances after the election, affecting employment sooner, not later. However, the bigger picture view of 2025 economic deceleration is unchanged. It’s just taking a while, as the bond market (2yr yield in this case) does what it did in 2007, likely dragging the Fed (T-bill yield proxy) off its dovish stance and back toward the hawk.
But for now, you go, girl…
Here is the full report (click graphic to read):
Government, Education/Health and Leisure/Hospitality SERVICES. Yeah, that’s what drives the Good Ship Lollipop. Let’s once again put aside the job losses in Manufacturing and just be happy. Okay? Let’s simply ignore the fact that Manufacturing tends to be a canary in a coal mine, economically. For now, the financialized economy is sailing on; not a care in the world.
Meanwhile, the unemployment rate is still in its base prior to the next upturn.
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