I'm sure the one handed typing bad news crew won't start this thread, so I will. 141,000 jobs were expected. UE dropped from 4.2% to 4.1%. The America last crew will have to pin their hopes on the October report coming out right before the election. Bid sads for them today. https://www.cnn.com/business/live-news/us-jobs-report-september-10-04-24/index.html
so will they stick to the 25 bp cut? need more data. the impetus seemed to be there for 50 bp but that is stronger than expected jobs number
Pre-empt the bots with their anti-immigrant rants: Based on the data from the STL FED the number of native-born total employed went up while the number for non-native went down. Whoops. Employment Level - Foreign Born
I swear, why post this stuff?! We all know good news is just the result of market forces beyond the control of the Biden Administration.
Bad news crew? LOL! Factual crew here: Employment Situation News Release - 2024 Q03 Results (bls.gov) Unemployment Rate: 4.3% July 4.2% August 4.1% September 3.8% September 2023 Clearly, the trend is down, not up. September Employment 254,000 12-Month Average 203,000 July Revised Up from 55,000 to 89,000 August Revised Up from 142,000 to 159,000 This is all good news coming from a factual crew member. The CPI will drop next week. The problem isn't with economic performance. The problem is with the Fed's being rope-a-doped by the Harris/Biden administration again. The Fed changed rate policy before having completely beaten inflation down to 2.0% and less. They have two more rate reductions planned for November and December. If it looks like a Trump win on November 5, you can kiss those rate cuts goodbye. The Fed's .50% reduction was purely political and, in all likelihood, will lead to higher inflation combined with further rate cuts, even .25% cuts. The rate of growth of inflation has come down, but the American people are still saddled with far higher prices than when Harris/Biden entered office. It is one of the biggest reasons Kamrade Kamala is going to lose this election.
