It was released on Friday, and I have no bloody clue as to what this all means.
+150K jobs on the non-farm payroll, which is OK, unemployment rising by 0.1% to 4.1%, with 10K federal jobs lost. (as of the 2nd week of February).
It might be a moment of hush before chaos ensues, or it may be business as usual.
U.S. employers added 151,000 jobs in February, the first full month under the new Trump administration, the Labor Department reported on Friday. The gain extended a streak of job growth to 50 months. The unemployment rate ticked up slightly, to 4.1 percent, from 4 percent in January.
The report showed a decline of 10,000 in federal employment. But it was based on surveys conducted in the second week of February, as the Trump administration’s mass firings, buyouts and hiring freezes at federal agencies were still unfolding.
The survey has likely not registered “more than a sliver of the full impact from federal government layoffs,” said Preston Caldwell, chief U.S. economist at Morningstar. “That should change in next month’s job report.”
So, the economy has jumped out of a 23rd floor window, and at floor 13, everything is OK.
This is going to get very ugly very fast.
1 comments :
I'm expecting unemployment reports and all other government statistics to be even more blatantly falsified than they have been in the past. They're going to take away any information that might be used to criticize them.
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