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AP Photo/Seth Wenig In an unexpected twist given all the other labor news we’ve seen over the course of this week , the Bureau of Labor Statistics monthly report shows that 528,000 non-farm jobs were created in July, more than doubling economist expectations. Payroll employment rises by 528,000 in July; unemployment rate edges down to 3.5% https://t.co/1Y9cSWJUIB #JobsReport #BLSdata — BLS-Labor Statistics (@BLS_gov) August 5, 2022 The unemployment rate also ticked down to 3.5 percent, down from last month’s 3.6 percent. Wages are also now up 5.2 percent from a year ago.
Despite the rate of inflation still being up more than 9 percent from a year ago and far outpacing wages, and despite other signs of economic weakness, it’s clear that the job market is going strong . More broadly, though, the report showed that the labor market remains strong despite other signs of economic weakness. “There’s no way to take the other side of this. There’s not a lot of, ‘Yeah, but,’ other than it’s not positive from a market or Fed perspective,” said Liz Ann Sonders, chief investment strategist at Charles Schwab. “For the economy, this is good news.” Markets initially reacted negatively to the report, with […]
They’re Trying to Shut Us Down
Over the last several months, I’ve lost count of how many times the powers-that-be have tried to shut us down. They’ve sent hackers at us, forcing us to take extreme measures on web security. They sent attorneys after us, but thankfully we’re not easily intimidated by baseless accusations or threats. They’ve even gone so far as to make physical threats. Those can actually be a bit worrisome but Remington has me covered.
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