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“A huge miss” says CNBC for Nov US jobs. Not really!
“A huge miss” was how CNBC’s Rick Santelli framed the November US jobs report, which revealed a ‘mere’ +235k net new private sector jobs were estimated by the BLS to have been added in November. Perhaps if Mr Santelli was to add back in the -175k decline in the seasonal adjustment that the BLS included […]
Continue readingBattle for the Fed narrative
Oh it’s such fun to see the Fed being played, if not by the government, then by the banks! Now however, both interests are aligned in attempting to persuade Fed Chairman Powell to keep the monetary punch bowl well filled, or risk yet another market ‘hissy-fit’. Hence the management of expectations for an entirely unreasonable […]
Continue readingUS wage growth slows in August
In between hurricanes, German elections, North Korean bomb and missile tests and the usual Jackson Hole navel gazing fest for central bankers, the August non-farm payroll estimates from the BLS may have struggled to make the front pages. At +165k, net private sector job additions for the month (+174k excluding movements in seasonal adjustments), it […]
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