The Bureau of Labor Statistics (BLS) has released the September jobs report [DATA HERE] showing a dismal 194,000 jobs added against a financial media and Wall Street expectation of 500,000 jobs. [CNBC Apoplectic] The labor participation rate in the worker economy overall has not moved since Biden’s inauguration, and stands at 61.6%. Digging into the numbers, what is happening is exactly what we ¹should expect. Outside the immediacy of private sector durable goods retailers seeing a pull back in consumer purchasing due to inflation (which we continue to point out is the critical issue); the local economies impacted by a declining tax base are key early indicators of contracting economic activity. Wage gains are not keeping up with inflation.
If You Find EarthNewspaper.com Informative, Please Make A Contribution
Donate today and support the work I do seven days a week. Each day I publish more than a dozen news articles and videos, from honest, independent and reliable sources, on a completely ad-free website. There are four ways you may donate: credit card, check, bank wire, or SubscribeStar. I, Mark R. Elsis, thank you in advance for your gracious generosity, so that EarthNewspaper.com All The Honest News Fit To Publish may keep growing quickly.