Wall St never ceases to amaze. The big number for job losses in August is expected to be revealed shortly.
Here's part of the skinny. Because its a three day weekend, many have already taken off for a longer holiday. So these investors are not so immediately affected by the job loss numbers. This could play out well or badly over the day. We could have a volatile day with light trading or a calm day with appealing numbers.
Here's one important piece, oil is slightly up.
Reuters: Stock futures edge higher ahead of jobs data
U.S. employers are expected to have eliminated 225,000 jobs last month, down from 247,000 in July...
2 comments:
Job losses are slowing because there are hardly anymore to shed not because employers wouldn't fire more people, they can't and still operate.I know so many people now working 3 people's jobs at their work sites. This is how they lower your salary they work you to death instead for 1/3rd the price. Plus, the people left with jobs are scared shit less and many know they're walking on a cliff edge.
Yes, the screws have come down all around. People who have jobs are working harder and everyone is worried about getting laid off.
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