Back to the slowing of the economy. The speed in which inflation is collapsing is astounding.
I think you’re going to see a dovish Powell on Friday. The market has been telling us this the past 6 trading days.
The honeymoon of falling inflation won’t last long though. https://t.co/9R1GXzHMLe
— QE Infinity (@StealthQE4) August 21, 2024
#recession … #GFC2 US #Labor edition
The similarities to 2008 keep piling up!#Employment 📉 🥶 https://t.co/Oze3kSAKPG pic.twitter.com/8JdFLKdU09
— Invariant Perspective (@InvariantPersp1) August 20, 2024
https://twitter.com/WhatLayoff/status/1825911684978061346
The US economy employed 818,000 fewer people than originally reported as of March 2024, showing the labor market may have been cooling long before initially thought.
The revisions are a yearly practice from the Bureau of Labor Statistics; final revised numbers are expected to be released early next year.
The report, released Wednesday morning, showed the largest downward revisions to the professional and business services industry, where employment was revised down by 358,000 during the period. Leisure & hospitality saw the second-largest downward revision of 150,000.
The report moves down the monthly job additions seen in the US economy over the time period to 174,000 from 242,000.
CNN: Biden Admin admits cooking the books, claiming 818,000 jobs between March 2023 & March 2024 that didn’t actually exist pic.twitter.com/YJ0XO0IUKo
— Tom Elliott (@tomselliott) August 21, 2024