I Can’t Believe What They Hid About Unemployment

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2 years ago
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U.S. unemployment rate witnessed an unexpected hike to 3.8%, marking the highest since February 2022. This was accompanied by an increase in nonfarm payrolls by 187,000, surpassing Dow Jones estimates of 170,000. A major sector to watch was health care, registering the most significant job gain by adding 71,000 positions. Leisure and hospitality followed suit with 40,000, indicating a potential resurgence post-pandemic. Furthermore, there was a marked shift in average hourly earnings, which grew by 0.2% for August and showed a 4.3% year-on-year boost, potentially hinting at easing inflationary pressures. The broader labor market spectrum suggests an approach toward full employment, with supply and demand metrics starting to align. Interestingly, while the nonfarm payrolls growth continually defied market expectations, counts for previous months like July and June were revised lower, prompting economists to evaluate current employment strategies. This data carries weight as the Federal Reserve charts its monetary policy roadmap. With speculations rife about the Fed's interest rate decisions in the wake of this report, economic enthusiasts are keenly observing possible shifts in job market dynamics, average earnings, inflation trends, and their combined impact on U.S. economic health. #inflation #UnemploymentRate #JobsReport #USLaborMarket #HealthCareJobs #Earnings #NonfarmPayrolls #FederalReserve

Jobs Not So Wonderful 0:33
What Should We Do? 10:47

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