1 Nov 2024 10:59 am
Jobs Shock: October Payrolls Huge Miss As Private Jobs Go Negative For First Time Since 2020Fuelman » 01 Nov 2024, 9:53 am » wrote: ↑ Employers added just 12,000 jobs in October as hiring slowed substantially. The total was expected to be constrained by two Southeast hurricanes and several worker strikes, but the tally was far lower than what was estimated and job gains for previous months were revised sharply downward, raising concerns about a weakening labor market.
That doesn't sound good!
https://www.zerohedge.com/markets/jobs- ... e_vignette
And of course, as has been the case for the entire Biden admin, previous months were revised sharply lower once again: August was revised down by 81,000, from +159,000 to +78,000, and September was revised down by 31,000, from +254,000 to +223,000. With these revisions, employment in August and September combined is 112,000 lower than previously reported. This means that even after the monster September revision when 818K jobs were removed, 7 of the past 9 months were again revised lower!