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10.6.2017 Bookmark

10.6.2017

Hello everyone, welcome to Friday, and this particular Friday is also "jobs" day. Yes today we get the non farm payroll report. 

As I sit here waiting on that, let's chat about a couple things. First off, I don't think that the market is going to care what the jobs number is. Why? Because of the Hurricane's they know that things got disrupted in a big way, they know it's probably temporary and they're not going to sweat a strange number.  So this jobs report probably isn't terribly important. 

11.6.2015 - Insiders Club Bookmark

11.6.2015

Hello everyone, we've made it to Friday, which just happens to be "jobs" day.

As you can imagine, all the financial outlets are focused like a laser on this report as they all feel it will influence the Fed's decision about rates. So I'm sort of confused here. Am I supposed to be cheering a weak number so that we have zero rates for ever, or am I supposed to cheer the idea of more people actually getting  job?? 

2.9.2015 Financial Intelligence Report Bookmark

Jobs Galore?

 

On Friday we got the non farm payroll report, and boy…if the powers that be ever wanted to paint something to  look perfect, this was their Rembrandt moment. Not only did the headline number beat the estimates of a gain of 235K by coming in at 257K; they went back and did some of the most aggressive “revisions” to prior reports that I’ve ever seen.

Let me paint the picture for you. According to our Government bean counters the last few reports have shown the most job gains in 17 years. They say that wage growth was the best since 2008, as they told us wages grew by 0.5%. The BLS did revisions to the entire year of 2014, and remember the “polar vortex” last January? They said at the time we only got 144K jobs. Now they say that looking back, it was really 247K.  But that was nothing compared to what they did to November. Now they say November posted a gain of 465K jobs.  That’s the most monthly gains since the tech bubble boom of the late 90’s. A time when there really were jobs galore.

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