The government's monthly data will be released Friday. The unemployment rat is expected to hold steady at 3.8%, an 18-year low. Heaven forbid for the Trump team if unemployment ticks up to 4%. The mainstream media will have a field day, as they say.
I no longer pay much attention to "jobs" data any more. I've long forgotten the "thresholds." From the blog:
Economists estimate the labor market needs to create about 125,000 jobs a month to keep the unemployment rate steady, though estimates vary -- Reuters.
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Doubts Grow
I said from the very beginning and have brought it up many times since: strong doubts that we will ever see the Aramco IPO. My reasons for doubting the IPO were probably wrong (maybe not) but regardless, "doubts grow," according to The WSJ.
I track the Saudi Aramco IPO here.
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Saudi Foreign Exchange Reserves
A reminder: prices have been inching up in May. Foreign exchange reserves, I assume, = income - expenses. And Saudi has a lot of expenses.
Just posted today at this link:
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