Jobs Report…Meh!

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yay. Jobs report Friday. August jobs report one big fat meh. Meh. And you don’t even know whether or not to take this thing seriously. Anyway, anyway, August payrolls came in 142 ,000. They were estimating 165 ,000. Big downward revisions, though. Yeah, July down to

89 ,000. The unemployment rate dropped again, you read these things, you’re like, why? How is this possible? I get into that bit went from 4 .3 to 4 .2. The reaction to this many people again, whether or not they wanted it to be a little bit worse, because then the Fed would lower

Rates in the September meeting by 50 basis points. I don’t I don’t think that’s happening. I Really don’t Let’s again talk about the BS from the past The payroll print for June was revised down by sixty one thousand from 179 to 118 July revised downwards by 25 ,000 from 114 to 89 Okay, and you know, we’ll see what’s gonna happen

comes to August, his numbers will probably be revised down. You’re talking that’s four in a row that have been revised downward and six out of the past seven. This is interesting. The number of people that are not in the labor force who currently want a job, 5 .6 million. Again, I don’t get that. They’re not in the labor force. They currently want a job. And these people, believe it or not, again, this is the

The crazy math that they use when they’re calculating these things. These people are not counted as unemployed because they’re not actively looking for work during the past four weeks. What exactly were they doing? You say they want, and I don’t remember this. It make any sense at all? They want to work. Okay, that’s what they’re saying. But they’re not unemployed because they’re not looking for work because they can’t find work. They just say, quit.

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Again, doesn’t make much sense at all. Anyway, again, I don’t know what the Federal Reserve is going to do in September. And I don’t play those games. They always love talking about it on TV. They start talking about what are the odds for a quarter and odds for a 50. How many rate cuts are we going to see by the end of the year? We do have three Fed meetings up until the election. And I do believe that we’re going to continue to see rate cuts.

along the way. Do I think that the federal reserve, the thing that we’re going to help this is just going to help the labor market at all by lowering rates? No, I don’t. It’s not a, like I said, it’s not an apocalyptic jobs number, but the information we’ve gotten over the course of the week, whether it be the Joltz report, whether it be the continuing claims and whether it be the ADP report, definitely showing signs

of weakness in the labor market. And again, don’t need the stresses. You don’t need the federal government. You don’t need these numbers to see this for yourself. You can see the companies, they make announcements, how many they’re laying off. And this has been a continuing theme for some time now. So again, all of these numbers that are out there, what does it mean overall? Well, I think we all know already that

It’s it’s feeling a little bit like a recession now the discussion right now out there. Is it a soft landing? It is a hard landing and again, I can’t stand these stupid metaphors that they come up with All right, this airplanes gonna land Listen, how does it feel in your neck of the woods? How does it feel for your neighbors? How does it feel for your? Community does it feel like we’re booming does it feel like we’re going like gangbusters? Are you seeing more?

Small businesses being shut down. You’re seeing more vacancy and retail fronts. You can do this yourself. Now again, we’re a big country and there’s different pockets and there’s different places here, there and everywhere. But again, all you need to do is to observe. All you need to do is observe. It’s like saying, you know what? Do you really need a weatherman to tell you what the weather’s like right now when you can just go outside?

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You can see what’s taking place. You know this. Again, trying to predict what’s going to be happening, very, very difficult thing to do. Again, I’ve said this for some time. I said much of the growth that we’ve seen over the past several years, without a doubt, it’s been due to government spending. Due to government spending, taking taxpayer dollars or borrowing money and injecting it into the economy more often,

I would say haphazardly misspent on things. What we need again is to get back to more organic growth where people are feeling confident again to go out there and to build and create and start businesses. That’s what’s important. And again, you’ve got policy positions from both of the candidates that pay a little bit of lip service, but quite frankly, not enough to move the needle.

Anyway, again, jobs report, pretty good chance it’s gonna be revised downward, but it’s one big fat meh. Watchdog on wallstreet .com.