Read the story here. Advertise at Before It's News here.
Profile image
By Philstockworld (Reporter)
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

Non-Farm Friday – Is America Working?

% of readers think this story is Fact. Add your two cents.

559,000 Jobs.

That’s what we added in the merry month of May and it’s a bit less than the 675,000 expected but still some pretty healthy growth so we can expect the market to react well since it’s not a good enough number to get the Fed to tighten but it’s not a bad enough number to indicate the economy is stalling, a very Goldilocks way to end the month.

Unfortunately, we still have 10M jobs to fill so filling them at a rate of 559,000/month (with a population growing at 150,000/month) means it will take us about 2 years to really get the economy back to normal.  Overall, we are -7.6M jobs since Jan, 2019 and we should have added 2.6M new jobs during that time.  Meanwhile, it should be noted that Hourly Earnings rose 0.5%, hotter than 0.2% expected by people who obviously aren’t paying attention but nowhere near enough to keep up with inflation so real income is still woefully shy of where it was in 2019 – yet people continue to over-bet on the economic recovery.

Nearly half of small-business owners surveyed by the National Federation of Independent Business in May said they were struggling to fill slots. Many employers have blamed enhanced pandemic-related unemployment benefits for the shortage of workers, which has prompted 25 Republican-led states withdraw from some or all of the federal jobless assistance programs in the coming weeks, months ahead of their expiration.  Most economists have pushed back against this argument and say the reality is more complicated. A lack of child care, continuing health concerns, low wages and competing priorities all probably play a larger role, they say.

With all the heaving and hoing the market has done this week, we haven’t actually gone anywhere – even with this morning’s pop.  We’re clearly consolidating at S&P 4,200 but whether it’s for a move up or down remains to be seen.  Oil (/CL) is popping to $69.50 into the weekend and we are going to short into the weekend.  We started shorting (again) at $68.50, so another round here will give us an average of $69 and then we take 1/2 off when we get back to $69 and we’re left with our original short at a higher strike over the weekend – so that’s the plan.…

Provided courtesy of Phil’s Stock World.

To read the rest of this article now, along with Phil’s live intra-day comments, live trading ideas, Phil’s market calls, additional member comments, and other members-only features – Come to the winning side at Phil’s Stock World by clicking here.

To sign-up for a free trial membership, click here.


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Load more ...




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.