This is actually NOT such a good report…..
The economic insiders KNOW a downturn is coming……
This report just points in that direction….
Jim Bullard of the St. Louis Federal Reserve was on CNBC this morning and he pointed to several reasons why the Fed has elected NOT to raise the interest rates anymore for now….
Bullard pointed to economic troubles in China and Europe….
He also mentioned that America has NOT settled trade issues with China, Europe , Brexit, Canada and Mexico….
And one could add the fact’s that the numbers out today are ‘backward’ looking…
We have just finished a government shutdown and a ANOTHER one could be coming….
(Tax cut hasn’t helped like advertised and the budget is thru the roof…)
U.S. hiring in January topped all forecasts while wage gains cooled and the government shutdown pushed up the unemployment rate, signaling job gains remain robust without major inflation pressures that would worry Federal Reserve officials.
Nonfarm payrolls increased by 304,000, the most in almost a year, after a downwardly revised 222,000 gain the prior month, a Labor Department report showed Friday. The median estimate in a Bloomberg survey called for an increase of 165,000, following an initially reported 312,000 in December.
Average hourly earnings rose just 0.1 percent from the prior month, missing estimates and the smallest increase since late 2017. The annual gain of 3.2 percent matched forecasts though was down from an upwardly revised 3.3 percent in December. The jobless rate increased to 4 percent, reflecting the shutdown, as the number of unemployed on temporary layoff rose by 175,000, many of them federal workers, according to the department….