Jobapalooza, Con't

July's jobs numbers are a slight miss, but we should have seen the last interest rate hike in a while, so there's that.

The US job market has returned to pre-pandemic form.

Employers added just 187,000 jobs in July, slightly above the monthly average seen in the decade before the pandemic, according to new data released Friday by the Bureau of Labor Statistics.

Economists were expecting a net gain of 200,000 jobs last month. June’s job growth was revised down to 185,000 jobs from 209,000.

July’s headline number and the downward revisions to the monthly job total for May and June (down 25,000 jobs and 24,000 jobs, respectively), are further indications that the nation’s labor market is gradually cooling off. Moreover, it further fuels the notion that the Federal Reserve can achieve a “soft landing” of reining in inflation without massive layoffs.

The July unemployment rate ticked down to 3.5%, from 3.6%.

 

Yes, the downward revisions from May and June mean the economy added fewer than 140,000 jobs this month, but we also seem to have hit the sweet spot as far as inflation reduction without companies laying off millions of workers too.

It really does look like we're on the glide path for the rest of the year.

Pity if the Republicans get control of things and we lose another 20 million jobs like the last guy did, right?

What? that same clown is running a second time in 2024 and he's been indicted on multiple state and federal counts in New York, with more pending in Georgia and maybe even Michigan?

He doesn't have much of a chance then, right?

Right?