5/5 : Jobs booming; unemployment lowest in 54 years

Another stunner of a report today. April numbers mark the 13th straight month that the jobs report blew away Wall Street economists expectations. 13 straight months. Incredible.Everyone keeps waiting for the shit to hit the fan and..nothing. Including me.

Education and health care saw the biggest gains, but here is the surprise: construction and manufacturing jobs also saw gains. Construction and manufacturing should be seeing job losses given the meteoric rise in rates. Something is wrong.

Two things to look for :

1) This dampens the expectation of a deep recession

2) The Fed has to keep increasing rates dashing hopes that they are done with rate bumps.

Every recession I have witnessed came at us differently and from an unexpected angle. Our true enemy has yet to reveal itself. Keep your consumer debt low and just like we do for The Big One , keep an emergency kit and supplies in the garage.

Jobs report: April job reports shocks with 253,000 jobs created, unemployment falls

8 comments

8 Comments

Java

May 11, 2023

Unemployment claims rose 22,000 to their highest level Since November of 2021.

RWC

May 06, 2023

Good post. So far so good.

Brad Stevens

May 05, 2023

Do you happen to have Old Hick Trojan’s address? I’ll be moving in with his family if the shit really hits the fan. He’s well supplied.…. Im very comfortable living day to day. That’s what is best for me right now.

BigBallss

May 06, 2023

Replying to

Lol. OHT has a huge multi acre spread. I’m gonna ask him if I can build an ADU on his property. I will milk his cows in lieu of paying rent. We can make artisanal cheese to make ends meet.

MLK Blvd

May 05, 2023

IT took a big hit with all the silicon valley layoffs. Things aren't as rosy as you make them sound.

BigBallss

May 06, 2023

Replying to

I wasn’t trying to make things rosy, just summarizing the report. More than anything I’m surprised by the numbers. When a national event like mass layoffs, foreclosures, or even a pandemic hits we start seeing the consequences in our daily lives. When I saw people around my circle start to die from Covid , I changed my opinion about the seriousness of the virus. At the moment, I am not seeing, hearing or reading about widespread layoffs. It’s the opposite, I’m seeing business owners struggle to fill job openings. I’m not getting calls about people falling behind on their mortgage payments.

These calls ALWAYS come to me in one form or another. It’s odd.

Things change fast tho and all of the economic markers/ flags indicate a recession is about to hit. It just hasn’t yet. But how much longer can the economy withstand the full on assault by the Fed before it breaks?

Unknown member

May 05, 2023

C'mon man! Those are all seniors who are forced to come back out of retirement and people working second and third jobs to make ends meet. These are not careers. These are weekend shifts at the self serve frozen yogurt place or some little old lady wiping a highlighter across your receipt as you leave. Be better, Bigballss.

BigBallss

May 05, 2023

Replying to

working the weekend shift job at a frozen yogurt place IS A RESPECTABLE JOB!! I had to beat out 5 octogenarian’s and a kid with Downs Syndrome to get it! Respect my decision.