It all hits in September…

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Bad news is good news till when? Till bad news becomes very bad news. Unemployment goes to 3.8% and the markets like it. Credit cards and subprime auto delinquencies at years high already at 3.5% unemployment. Let’s see what happens with delinquencies at a 3.8% unemployment…

Payrolls rose by 187,000 in August, unemployment rate rises to 3.8%

The U.S. added more jobs than expected in August, a sign of resilience for a labor market under pressure from Federal Reserve interest rate hikes.

Nonfarm payrolls grew by a seasonally adjusted 187,000 for the month, above the estimate for 170,000, the U.S. Bureau of Labor Statistics reported Friday.

However, the unemployment rate was 3.8%, up significantly from July and the highest since February 2022. That increase came as the labor force participation rate increased to 62.8%, the highest since February 2020, just before the Covid pandemic declaration.


https://twitter.com/DogeVenture/status/1697418932179685884

It would be funny if the entire population of the United States maxes out their credit cards at the same time and then we refuse to oblige.
https://twitter.com/leadlagreport/status/1697571354210394438