We had a positively anemic jobs report in April, with non farm payrolls growing only by 175,000, which is a little bit below what is needed to account for growth in the labor market.
The unemployment rate also rose by 0.1% to 3.9% (U3).
I'm sure that the sado monetarist rat-f$#@s at the Federal Reserve are congratulating themselves over the pain that they are causing:
Hiring in the US slowed in April with the workforce adding another 175,000 jobs and wage growth slowing.
The news cheered investors hoping that a cooling labor market will prompt the Federal Reserve to cut interest rates – which have been driven to a 20-year high as the US fights stubbornly high inflation. All the major US markets rose on the news.
I think that their spell check is broken, they spelled, "Psychotic narcissistic evil greenheads," as, "Investors."
......
Wage gains in April – which are also closely watched by the Fed – were also lower than forecast, increasing 3.9% from a year earlier after rising 4.1% in March.
Well, that IS good news. (Not)
I am unimpressed with both the economy and the whole idea of an independent central bank.
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