Anonymous wrote:December jobs numbers are out: Employment continues to slow, and we added +50k jobs. The unemployment rate fell a tick to 4.4%.
Revisions are brutal: October revised down -68k to -173k; November revised down -8k to +56k. Remember: The Fed thinks these numbers are overstated by 60k.
A reliable gauge of the underlying job market is average job growth over the past three months. Right now, that's -22k. (And again, the Fed's Powell says that likely overstates reality for technical reasons.)
We're losing jobs.
Call it a jobs recession.
At this point, the initial jobs number is meaningless. The number is always revised down substantially in the subsequent months. Look at that October revision. If they are claiming December was +50k, it will probably end up -15k or worse.