The U.S. labor market is showing further signs of weakening as the pace of layoffs has picked up over the past four weeks, payrolls processing firm ADP reported Tuesday.
Private companies lost an average of 13,500 jobs a week over the past four weeks, ADP said as part of a running update it has been providing. That’s an acceleration from the 2,500 jobs a week lost in the last update a week ago.
With the government shutdown still impacting data releases, alternative information like ADP’s has been filling in the blanks on the economic picture.
Government agencies such as the Bureaus of Labor Statistics and Economic Analysis have released revised schedules, but critical reports such as the monthly nonfarm payrolls count won’t come out until December... (our emphasis)
We have no faith in what labor and economic data the government agencies will put out after the professional leadership was fired months ago. They'll be cooking the books as thoroughly as they'll be cooking the Epstein files.
The only thing that's golden about our new "Golden Age" is what the Malignant Fascist is lining his and his family's pocket with.
UPDATE: Consumer confidence is tanking, based in part on job prospects --
Consumers soured on the current economy and their prospects for the future, with worries growing over the ability to find a job, according to a Conference Board survey released Tuesday.
The board’s Consumer Confidence Index for November slumped to 88.7, a drop of 6.8 points from the prior month for its lowest reading since April. Economists surveyed by Dow Jones were looking for a reading of 93.2.
In addition, the expectations index tumbled 8.6 points to 63.2, while the present situation index slipped to 126.9, a decline of 4.3 points.
Golden!
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