Zero Hedge-
Ahead of today’s payrolls report, in our preview we said that while we knew we would get a slowdown, the question was how big it would be (and before that we also asked if Yellen had leaked the weaker number to Japan ahead of their multiple interventions this week to prevent them from wasting tens of billions in intervention dry capital for nothing).
We got the answer moments ago when the BLS reported that in April the US added just 175K jobs, a nearly 50% drop from the upward revised 315K (was 303K), the lowest print since October 2023.
As usual, prior data was net revised lower, with the change in total nonfarm payroll employment for February revised down by 34,000, from +270,000 to +236,000, and the change for March was revised up by 12,000, from +303,000 to +315,000. With these revisions, employment in February and March combined is 22,000 lower than previously reported. more here
So as usual the administrations numbers don’t match up with the real numbers. Wish I could afford a government accountant, I’d be rich on the books.
This is been going on since the obongo administration. Main line news says everything is great employment is up and people are bringing in big paychecks. Then about 4 days later the actual numbers hit. But that’s not reported and it’s on the last page of newspapers.
I notice how all these illegals count as part of our population in every way but employment statistics.