Once again we have gotten the Non-Farm Payroll number and once again we have evidence that the economy continues to weaken. Below you will see a chart of the rate of growth of jobs over the last twelve months.
With the September 2016 number, we can see that growth for the 12 months ending September 2016 is the lowest of the last four years, and the trend for the year overall has been decidedly downward.
Meanwhile the Federal Reserve Bank continues to pepper us with upbeat reports of the strength of the Jobs Market in the United States.
When you look at where we are and where we have been the last four years, what conclusion do you draw?
And the October 2016 is gonna have to be a doozy to even keep us at our current level of YOY growth. What will that number need to be at a minimum?
295 thousand jobs added will need to be the number. Unless some serious magic occurs, do not expect that to be a possibility.
The economy continues to weaken. Job growth supports that conclusion. So does Corporate Profits.
At some point the Stock Market Indexes will also have to come to terms with the realization that we are not in the economic reality they continue to believe we are in.