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Bernardo de La Paz

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37. I neglected the stimulus effect of "tax cuts" in the BBB, which are oversold, not needed, and costly

Fri Jun 6, 2025, 12:05 PM

Jun 6

The BBB will extend some existing tax reductions set to expire and bring in new ones for billionaires. The extension is not stimulative though it avoids contractionary pressure if they were to expire.

The gift to the billionaires will be a little stimulative but will be more inflationary for asset prices like for real estate, art and maybe gold / bitcoin. It won't be invested all in new production. It comes at a high fiscal cost (increasing deficits and borrowing costs) and high social cost (taking health care away from millions as only one example). In any case, those billionaire giveaways won't have an effect for some time yet but the costs are more immediate.

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U.S. payrolls increased 139,000 in May, more than expected; unemployment at 4.2% [View all] BumRushDaShow Jun 6 OP

Does anyone believe any government stats right now? mdbl Jun 6 #1

You are absolutely correct, mdbl. pdxflyboy Jun 6 #2

I'll never believe anything these wankers say RoadRunner Jun 6 #5

Understandable, but these numbers are definitely legitimate. Wiz Imp Jun 6 #7

These numbers? Yes. I worked on this program for 30+ years. I know people who still work on the program Wiz Imp Jun 6 #6

Good to know. yardwork Jun 6 #11

So we are relying on the good will of people who are most definitely not afraid of losing their job? travelingthrulife Jun 6 #14

I guarantee you the people I know will resign before falsifying numbers. Wiz Imp Jun 6 #18

I Would Agree, But With A Word Of Caution DallasNE Jun 6 #41

Good Point. And those smaller sample sizes or lower response rates will certainly impact some BLS surveys. Wiz Imp Jun 6 #42

I call bullsh*t as well... ultralite001 Jun 6 #13

I for one have total confidence in our Dear Leader's Ministry of Truth. nt Xipe Totec Jun 6 #17

It may be more than expected, but that is not a good number. Anything under 150k is bad. everyonematters Jun 6 #3

Yep.... Hugin Jun 6 #9

True Rebl2 Jun 6 #27

This message was self-deleted by its author Wiz Imp Jun 6 #4

JFC people, this is a +44,000 report, that is, with the 95,000 downward revisions of the previous 2 months, there are. progree Jun 6 #8

This is a bad report Johnny2X2X Jun 6 #10

You did actually look at the graph. n/t Igel Jun 6 #44

This is the right way to look at it WSHazel Jun 6 #12

That's probably the closest that it's gotten to ADP's numbers BumRushDaShow Jun 6 #21

Private non-farm employment: ADP: +37,000, BLS: +140,000 progree Jun 6 #24

I remembered it from the OP Wednesday BumRushDaShow Jun 6 #25

One must always read to the end of the release to get the complete accurate picture of the new month's report. Wiz Imp Jun 6 #15

That is less job growth than April. The economy is slowing. OrlandoDem2 Jun 6 #16

Kick dalton99a Jun 6 #19

BFD!! InAbLuEsTaTe Jun 6 #20

Another solid report. America has more going for it than the whims of Donald Trump mathematic Jun 6 #22

LINKS to some BLS Data Series Numbers and Graphs. Coming soon: The labor force dropped by 625k, Employed down by 695k progree Jun 6 #23

Household Survey: Employed dropped by 696k, Labor force dropped by 625k, LFPR from 62.6% to 62.4% progree Jun 6 #26

My view, combing ADP and this report: resilience is fraying at the edges Bernardo de La Paz Jun 6 #28

I neglected the stimulus effect of "tax cuts" in the BBB, which are oversold, not needed, and costly Bernardo de La Paz Jun 6 #37

Investors are already looking to July's jobs report -- or even August's - Hamza Shaban, Yahoo Finance progree Jun 6 #29

Oopsie. The graph in the OP says, "2025 May 177k" progree Jun 6 #30

They did finally fix that and I updated the OP! BumRushDaShow Jun 6 #35

Is the report that Trump stopped from being released Owens Jun 6 #31

No, this jobs report was released on the normal first Friday schedule. The one you may be thinking of is a farm trade progree Jun 6 #32

He'll probably revise it with a Sharpie. benpollard Jun 6 #33

Gawd....the effects of these tariffs (when all are implemented unless TACO) will be months and months from now Bengus81 Jun 6 #34

The jobs numbers are seasonally adjusted /nt progree Jun 6 #36

True and with a best guess,same as in late fall with Christmas hiring. Bengus81 Jun 6 #38

You're right about a big seasonal upsurge this time of the year. +726k progree Jun 6 #39

A Word Of Caution DallasNE Jun 6 #40

NOT TRUE. Wiz Imp Jun 6 #43