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Friday, August 05, 2016

U.S. Economy Grew ONLY 1.2% and July Payrolls Soar By 255K?

U.S. trade deficit climbs 8.7% in June to $44.5 billion.  GDP a DISMAL 1.2% Q2.  Durable Goods Orders for June -4%>>>> MINUS 4 PERCENT.. CATERPILLAR reports 44 MONTHS OF DECLINING SALES AND LAYOFFS..
Where are all these great jobs coming from?… McWonderland. $8/hr. poverty jobs
July Payrolls Soar By 255K, Smashing Expectations As Wages Rise More Than Expected: Rate Hike Eyed
So much for payrolls tracking declining tax withholdings. With many expecting a payrolls whisper number to come below the consensus print of 180K, moments ago the BLS reported that July payrolls soared by 255K, above even the highest Wall Street forecast, and a number made even more impressive by the upward revision to the June print from 287K to 292K. The unemployment rate remained flat at 4.9%, on expectations of a modest drop to 4.8%.
Finally, making a strong case for a December (or even September, however, the Fed will never hike before the election) rate hike, were the average hourly earnigs which rose 0.3%, above the 0.2% expected, and well above last month’s 0.1%, and rising 2.7% compared to a year ago.


http://www.bloomberg.com/news/articles/2016-07-29/u-s-economy-grew-a-less-than-forecast-1-2-in-second-quarter


  • Analysts surveyed by Bloomberg forecast 2.5% expansion
  • Report raises risk to outlook as Fed looks for improvements
The U.S. economy expanded less than forecast in the second quarter after a weaker start to the year than previously estimated as companies slimmed down inventories and remained wary of investing amid shaky global demand.
Gross domestic product rose at a 1.2 percent annualized rate after a 0.8 percent advance the prior quarter, Commerce Department figures showed Friday in Washington. The median forecast of economists surveyed by Bloomberg called for a 2.5 percent second-quarter increase.

1 comment:

  1. The amount of energy and time necessary to refute bullshit, is an order of magnitude bigger than to produce it. To refute this stinking pile of "jobs" bull dung would require prodigious effort!

    ReplyDelete