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- Jobs Friday: Stall Speed
Jobs Friday: Stall Speed
by Karl Denninger Market-Ticker.org
Screameth the Bureau of Lies and Scams:
Total nonfarm payroll employment rose by 187,000 in July, and the unemployment rate changed little at 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, social assistance, financial activities, and wholesale trade.
This isn’t a bad report per-se — but the internals disclose some rather not-so-good trends.
First, remember, this is July — which means it includes the 4th of July, a heavy travel month and one where you’d expect plenty of overtime and simple demand in leisure and hospitality.
Its not there.