Latest job numbers show weakness, suggesting contraction

Is the US in recession already like Germany? Latest jobs numbers weren't encouraging at all (even before revisions). In fact, that weakness is starting to look like other significant data suggesting more than possible contraction.

HAPPY LABOR DAY? pic.twitter.com/ijCik2ZYb2

— Jeffrey P. Snider (@JeffSnider_AIP) September 4, 2023

Staggering figures reveal 1.2MILLION US-born workers lost their jobs last month – replaced by 688,000 foreign-born staff – as Joe Biden allows migrants to flood across the border

• The latest data showed that the decrease in the number of native-born workers, month-on-month, has dropped to lows not seen since April 2020 
• The increase in foreign-born people working in the US this summer, 668,000, is the highest July-to-August jump in the last 10 years