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ADP estimates another month of outright job losses, especially in small businesses.
“Hiring has been choppy of late as employers weather cautious consumers and an uncertain macroeconomic environment. And while November's slowdown was broad-based, it was led by a pullback among small businesses.”
“Cautious consumers” and “uncertain macroeconomic environment” are not anodyne euphemisms for a Golden Age.
They are anodyne euphemisms for a jobs recession that has taken a noticeable turn for the worst .
Will “Too Late” Powell actually look at these numbers, and will someone intelligent explain to him that his cock-eyed stance on interest rates is hurting people?
I am not optimistic. I suspect Powell will look at this data and declare it no big deal just as he's done in the past.
Powell only cares about what Wall Street does. Actual working men and women do not exist in his bubble.
