The U.S. economy created no new jobs, and the unemployment rate held at 9.1% in August. And, it was the first time since World War II that the economy had a net zero jobs created for a month. If you subtract off the BLS "Birth/Death" adjustment statistic of 87,000, we would have a "negative" job growth. By the way, the Birth/Death statistic has created over 471,000 of "mythical jobs" in the past year! And, of course, the market hates this news! The "E-mini S&P 500" is off by 20, which would equate to about the DJIA opening down 200 points.
No comments:
Post a Comment