James, FYI, the post and thread titles don't seem to work when there is a percentage sign (%) in the title. That's why it wouldn't post for you.
Sorry for the hassle.
Employers added 528,000 jobs in July, as the hot labor market powers on
Source: Washington Post
The hot labor market continued to show rapid growth in July, with employers adding 528,000 jobs, despite fears of a recession.
The unemployment rate edged down to 3.5 percent, according to the Bureau of Labor Statistics. In July, the labor market continued to show stunning growth that afforded workers historic wage gains and more leverage at their jobs.
The labor market has shown little signs of cooling off, proving to be a pillar of strength for an economy facing strong head winds. Other indicators, especially inflation at 40-year highs and six months of negative economic growth paint a less rosy picture. The financial markets have lost trillions of dollars in value this year, and one measure of consumer sentiment hit a record low in June.
A slowdown in job growth would have indicated that the Fed's interest rate hikes are achieving their intended goal of cooling down the labor market. As the Fed continues to raise rates, and borrowing becomes more expensive for households and companies, workers will probably have less leverage in the job market than they did earlier this year. Also, higher interest rates could lead to a wave layoffs.
Read more: https://www.washingtonpost.com/busin...ort-july-2022/
James, FYI, the post and thread titles don't seem to work when there is a percentage sign (%) in the title. That's why it wouldn't post for you.
Sorry for the hassle.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
As for the report, I guess the Fed is going to have to start raising rates 1% or more at the next meetings, or maybe an emergency hike?
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Just remember we are still down over a million jobs in the service sector.
There is no reason to be shocked by a nice jobs report. There is nothing wrong with a strong labor market, and raising interest rates isn't going to do much to quell the return of labor to the labor force.
Get it to 3% next meeting then wait for things to catch up. The fed always overdoes it on both ends (cutting and raising rates).
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