Given the President’s demeanor during his acceptance speech at the DNC last night, which seemed a little drained and down to us, we suspected the employment numbers would disappoint this morning. He had a heads up on this morning’s punk data.
What do you think? Should we start a newsletter about reading the body posture of government officials before data releases? Just pullin’ your Markov chain!
Seriously though the QE3 prepares to leave dock even as the stock market rips to post-crash highs – think Kafka – as the BLS reported this morning that August employment growth came in under expectations,
Total nonfarm payroll employment rose by 96,000 in August, and the unemployment rate edged down to 8.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in food services and drinking places, in professional and technical services, and in health care.
Note, after losing almost 2 million jobs during the Great Recession, hiring in the construction sector just can’t seem to gain any traction.
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