Hello, 'Mr. Less-than-expected' - American Thinker https://t.co/kGceFyBH2Q
— Silvio Canto. Jr. (@silvio_canto) September 7, 2024
We just had another first Friday and in came another visit from “Mr. Less-than-expected.”
Let’s check it out:
The U.S. economy created slightly fewer jobs than expected in August, reflecting a slowing labor market while also clearing the way for the Federal Reserve to lower interest rates later this month.
Nonfarm payrolls expanded by 142,000 during the month, down from 89,000 in July and below the 161,000 consensus forecast from Dow Jones, according to a report Friday from the Labor Department’s Bureau of Labor Statistics.
While the August numbers were close to expectations, the previous two months saw substantial downward revisions. The BLS cut July’s total by 25,000, while June fell to 118,000, a downward revision of 61,000.
Do you get the feeling that job creation is a bit slow? I guess we are now living the “vibes” of low job creation. Or maybe the consequences of hearing that everything was doing great when it fact it wasn’t.
And to make matters more interesting, President Biden confirmed what we all knew. The Inflation Reduction Act was never about reducing inflation but about climate change porkulus.
Let’s hope that someone will ask Vice President Harris about both of these topics.
P.S.: Check out my blog for posts, podcasts and videos. (American Thinker)