Key insights
- The author claims the recent BLS jobs report is misleading, arguing that excluding gains in retirement-related healthcare sectors and local government reveals a net loss of approximately 100,000 jobs year-over-year. This suggests a weaker underlying economy than headline figures indicate, potentially signaling a bearish outlook for equities due to concerns about consumer spending and corporate earnings.
UNDER THE SURFACE THIS JOBS REPORT IS COMPLETELY ABSURD THE ECONOMY IS IN SHAMBLES
THERE IS LARGE NEGATIVE JOB CREATION AMONG GOODS PRODUCING JOBS
IF YOU TAKE OUT THE YOY GAINS FROM:
-INDIVIDUAL AND FAMILY SERVICES (AKA RETIREMENT HOME EMPLOYEES) (+250K)
-HOME HEALTH SERVICES (+100K)
-OFFICES OF PHYSICIANS (+50K)
- OFFICES OF OTHER HEALTH PRACITITONERS (+40K)
-LOCAL GOVERNMENT (+70K)
THE USA HAS LOST ALMOST 100K JOBS IN THE PAST YEAR
DO NOT BE FOOLED THIS ECONOMY IS IN SHAMBLES