Idle Rambling -- Nothing To See Here -- It's All Been Discussed Before -- September 6, 2024

Locator: 48544JOBS.

US Labor Force: 164.6 million was the all-time high (?). Link here.

Today's jobs report: payrolls expanded by 142,000 / 164,600,000 in August = 0.000862697 = 0.0086%.

Forecast (consensus): 161,000.

• 161,000 - 142,000 = 19,000
• 19,000 / 164,600,000 = 0.0001154313 = 0. 000154%

But what amazes me is that both the estimate and the actual have a precision of 1,000. 

The forecast was for 161,000. Not 160,000 or 162,000, but 161,000. Exactly, 161,000.

And the actual number came in at 142,000 which is obviously "rounded." 

But seriously -- this is what a gazillion analysts and talking heads were waiting for this Friday. LOL.

Are they obsessed? LOL.

 But wait! There's more. 

Up until today, I had only "the unemployment rate" reported. But today the analysts provided both "the unemployment rate" and "the real unemployment rate."

Say what? All this time, they've been keep the "real unemployment rate" a secret.  

And finally, earnings.

Those figures, 0.3% --> 0.4% -- neither reproducible or statistically significant, and for all we know the 0.3% figure was rounded from 0.34% and the 0.4% figure was rounded from 0.36% -- make the delta ... 0.02%, which rounded is 0000000 or flat or unchanged or meaningless.

By the way, that "real unemployment rate" (U6) went from 7.8% to 7.9%. OMG. Link here.

By the way, the unemployment rate I use is U1 -- the "real real unemployment rate." The most recent U1 rate, August, 2024, is 1.6, absolutely identical to what it was last month, July, 2024.

Just imagine. The US economy. U1 unemployment rate is 1.6%. And Trump says the economy is a mess.

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What About In Schools; On Playgrounds?
Or On Gun Ranges?

It makes sense that guns are allowed in hospitals. After all, emergency medical care is "immediately" available. 

To "Code Blue," we can now add "Colt 45 in progress."