USA Jobs Shock - Joe Blogs

[TexasTowelie]

The U.S. economy has just delivered a shock payroll report. Only 22,000 jobs were added in August, compared to forecasts of 75,000, while unemployment ticked up to 4.3%. Wages grew modestly at 3.7% year-on-year, but revisions show even fewer jobs than previously reported.

At the same time, President Trump has fired the head of the Bureau of Labor Statistics (BLS), sparking fresh controversy about the independence of official U.S. economic data.

In this video, I explain:

The latest jobs numbers and how they compare with forecasts
Which sectors are gaining and which are in decline
What the weak payrolls mean for the Federal Reserve and interest rates
Why Trump’s attack on the BLS is shaking confidence in U.S. statistics

Chapters:
0:00 Intro
0:40 PAYROLL DATA
2:35 UNEMPLOYMENT & REVISIONS
4:31 USA ECONOMY
6:23 INTEREST RATES
9:48 BIG PICTURE
12:00 SUMMARY & CONCLUSION