On the surface, it was an blockbuster jobs report, certainly one which nobody expected. Starting at the top, the BLS reported that in January the US unexpectedly added 353K “jobs” – the most since January 2023 (when the print was 482K compared to 131K) , double the consensus forecast of 185K and more than the highest Wall Street estimate (300K from Natixis). In fact, this was a 4-sigma beat to estimate, unheard of in the past year.
The headline data was stellar across the board, starting with the unemployment rate which once again failed to rise – denying expectations from “Sahm’s Rule” that a recession may have already started – all the way to average hourly earnings, which unexpectedly spiked from 4.1% (pre-revision) to 4.5%, the highest since last September, and a slap in the face to the Fed’s disinflation narrative..
one would have to be a complete idiot to believe anything that comes from this government! it is so totally corrupt! all they do is lie and push their narrative to. keep the serfs in their place!
They have been cooking the books regarding employment, unemployment and inflation for quite some time. Up one month with a MSM splash. Quietly revised downward the following month(s) with no fanfare. The goal is to condition low information voters to think things are on the mend.
Related: Gallon of store brand water is now $1.49/gallon; was $1.19 6 months ago.
Gallon of kerosene this weekend was $5.99, up almost $2.
Gas is up more than .50/gallon in recent weeks.
Social Security recipients got a 3.2% bump in January.
Bidenomics is savaging the economy, and it’s not an accident.
NO good jobs on DelMarVa !!! Not changed in 60 years !!! This area Only good for those who can Retire !!!!
Unless you like working for a Chicken company / Prison / Jail / Retail No Thanks !!