No Recession Coming

[Nemo]

Yes, look at all the estimated numbers.  But not the corrections.

Nemo


Dec and Jan jobs report corrected.


https://www.barrons.com/livecoverage/february-jobs-report-today/card/labor-department-cuts-167-000-jobs-from-december-and-january-payrolls-FrRetAnGWH85TGfCeJ8n

Updated 1 day ago

Labor Department Cuts 167,000 Jobs From December and January Payrolls

By

Megan Leonhardt

The Labor Department made significant reductions to the previously reported outsize payroll gains in December and January.

The department cut 124,000 payroll gains from the 353,000 jobs initially reported for January. The revised total was just 229,000 .

It also cut 43,000 from total nonfarm payroll employment for December, revising down the total gain to 290,000, from 333,000

With the revisions, the combined gain in nonfarm employment for December and January is 167,000 lower than previously reported.

The revisions shift the overall picture on labor trends, making December and January fall more in line with the recent trends of a solid, but normalizing employment situation.

?As markets have generally been in ?more jobs, less cuts? mode, today's number pumped the breaks on that mantra,? wrote Lindsay Rosner, head of multisector fixed-income investing at Goldman Sachs Asset Management.

?The more reasonable, albeit still strong, February print coupled with the two-month payroll net revision spoke to the larger theme of a tight-but-normalizing labor market and an environment that can lend marginally more confidence to the Fed who is looking to shore up their own,? Rosner said.

https://www.foxbusiness.com/retail/levi-strauss-co-lays-off-140-employees-san-francisco-headquarters

It's part of a wider global wave of terminations as Levi Strauss & Co. attempts to tighten its belt


The company, known for its iconic blue jeans, announced 146 employees would be cut from their San Francisco headquarters.


California staff cuts are unlikely to be the last ? the company previously announced more widespread terminations are on the horizon.


Levi has previously speculated that it will cut between 10% and 15% of its world-wide workforce in the first half of 2024.

[Jackalope]

It's weird the corrections never make the news headlines...

[JohnyMac]

Nope they don't Jackalope. If you bring them up people look at you funny.

Martin Armstrong just predicted that gold will go to $2,250- this month and will end the year around $2,350- an oz. He also added a side bet that if NATO rolls into Ukraine, gold could top $3,000- an oz. Interesting.

Stay tuned,

 

[Sir John Honeybucket]

Imagine what we will know NEXT YEAR?!

For run, after reading about the latest end-of-the-world on MSM, I decided to pull-up some memories from Y2K...  it was a good laugh, mixed with fond memories of the lovely and talented Anita, whom I was helping with her preps and dating at the time. 

Now, time for a double espresso and fine, EMP proof tobacco, in my tactical robe, on the tactical porch...

Sir John Honeybucket