Well, that was just about the worst monthly jobs report I can remember. Headline payrolls (+38,000, the worst in almost six years) missed forecasts by a mile.
Job losses were widespread across industries, including retail, mining, construction, manufacturing, and temporary help.
Labor force participation dropped sharply. And wage gains and hourly earnings figures showed some weakening.
Gold is soaring, the dollar is tanking, stocks are reeling, and bonds are flying in response. We are very close to some significant technical breakouts and breakdowns, so definitely stay tuned to see how markets close later in the day
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…yet we’re in another housing bubble, especially in commercial real estate???