Fed Does Not Seek or Welcome Further Labor Market Cooling
Tyler Mitchell The market is cheering the Jerome Powell’s self congratulatory and market friendly speech at Jackson Hole. “Your mileage…
New Home Sales Surge in July, What Will that Do for GDP?
New home sales were up 10.6 percent in July, and an amazing 19.8 percent factoring out a big…
Robert Kennedy Drops Out of Election, Endorses Donald Trump
As expected, RFK drops out of the election. The Wall Street Journal agrees with my take that this…
Existing-Home Sales End Four-Month Decline, Increase 1.3 Percent
Existing home sales rose 1.3 percent. Tack on a small positive revision, and sales rose 1.5 percent from…
BLS Revises Jobs Down by 818,000 the Most Ever, About 68,000 Per Month
Do I get to say I told you so? My advance estimate a month ago was 779,000 lower.…
Was the Real Jobs Revision Negative 818,000 or Negative 915,000?
I calculated -915,000. Every headline said -818,000. I finally gave up and posted 818,000 but noted a discrepancy.…
Ford Cancels Plans for Electric SUV, Expects a $1.9 Billion Loss
Say goodbye to a vehicle that never should have been conceived in the first place. Customers don’t want…
A Breakdown, by Sector, of the Negative 818,000 BLS Job Revisions
Yesterday morning, I had difficulty finding the BLS job revisions. So did everyone else. Eventually the BLS posted…
The Share of People Seeking a Job Is the Highest Level Since 2014
A New York Fed survey shows a huge increase in the percent of job seekers. It’s especially pronounced…