Chris Trottier on Nostr: All that *fear* about U.S. unemployment? The jobless claims report came out today. ...
All that *fear* about U.S. unemployment?
The jobless claims report came out today. And they're not up, they're down. In fact, they're *below* expectations.
Economists thought there would be 240,000 jobless claims. It was actually 233,000. And actually, this is down from 250,000 claims recorded on August 5, 2023.
In other words, the idea that unemployment is suddenly spiking -- that was just fear talking. That's right, the big plummeting stock market occurred because certain traders were yelling "the sky is falling".
This is why it pays to wait for data -- and here it is directly from the U.S. Department of Labor.
https://www.dol.gov/ui/data.pdf 
Published at
2024-08-08 17:07:49Event JSON
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