Below we mentioned the deterioration of the PMI index. They weren't good.
Now we get the employment stats from BLS:
...the BLS reported that in July, the US added just 114K payrolls, a huge miss to expectations of 175K and also a huge drop from the downward revised June print of 206K, now (as always ) revised to just 179K. This was the lowest print since December 2020 ...
And there were the usual downward revisions for past reporting months, too.
Household survey agrees with the job problem.
...the number of people employed (per the Household survey) rose half the number of payrolls, up just 67K...which means that while the fake Payrolls print is now finally topping, the number of actually employed workers hasn't changed in the past year...
You can see the charts and graphs at the link.
Trump is going to have a very rough first two years.
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