The firing of the BLS Commissioner Erika McEntarfer for delivering bad news. This is all over the news so I can not claim new, news at Angry Bear. Of course, as you already know, July’s BLS Jobs Report came in at 75,000. The two earlier months were revised downward to 14,000 for June and 19,000 […]
Trump isn’t a jobs creator—the jobs reports are down. So what does Trump do? He fires the Commissioner of Labor Statistics. How many jobs will shooting the messenger create? Meanwhile, his threatened tariffs have stocks headed down. Will he fire Wall Street? A fed governor steps down, making room for a Trump appointment and setting […]
July jobs report: especially with revisions, an awful report that screams near-recession – by New Deal democrat Let me cut right to the chase in this first sentence: the only reason this employment report was not recessionary is that it did not have a negative number. Aside from that, it was either flat to awful […]
July down and last two months revised downward. The July jobs report wasn’t just underwhelming. It may have flipped the story on its head. Payrolls grew by a meager 73,000 jobs, far below the roughly 110,000 anticipated. Adding insult to injury, May and June were revised down by a staggering 258,000 jobs — the biggest two-month […]
There is little doubt in my mind, inflation will increase. Prices will increase in the name of inflation whether warranted or not. We experienced similar during the Covid epidemic. We also saw companies take advantage of shortages also with price increases which do little to increase supply. This time we have a president in office […]
– by New Deal democrat In my conclusion last month, I wrote “In the first two months of Q2, total real spending has declined by -0.8%, while services has been basically unchanged. If there is a further decline in June, based on the above discussion that would likely trigger a “recession watch” signal.” To cut to […]
Cuts to Medicaid will impact the people receiving healthcare from Medicaid. Such cutbacks will result in layoffs in Long-Term Services & Supports (LTSS). Medicaid is the “single largest payer” for Long Term Services & Supports (LTSS). It accounts for nearly half of total LTSS spending in the US. It includes care provided in a nursing home or […]
– by New Deal democrat Today’s GDP report for Q2 was pretty much as we expected, i.e., payback from the front-running of import tariffs in Q1. But as usual, my main focus is on the two long leading components. The headline was a 3.0% annualized increase in real GDP, rebounding from the -0.5% decrease in Q1 […]
The Federal Reserve left interest rates unchanged on Wednesday, keeping its benchmark range at 4.25% to 4.5%. In his remarks, Fed Chair Jerome Powell explained the committee’s view that “the economy is in a solid position.” However, growth has moderated, he said, and consumer spending has slowed in the first half of the year. What’s […]
– by New Deal democrat Yesterday’s JOLTS survey for June continued to be consistent with a “soft landing” scenario. This is good news, particularly on a relative basis, since the actions of the new Administration, especially on trade, have exacerbated the fear that this might transform into a “hard” landing, a/k/a a recession. As a quick […]