Ep. 102 - Stop Believing the Jobs Report Hype... | Understanding The Jobs Report

In this episode, Quinton examines the September jobs report and explains why the headline numbers don't tell the full story. Despite far exceeding expectations by adding 336,000 jobs, he notes the growth was largely driven by seasonal adjustments and increased government hiring. The report also showed a record number of people holding multiple jobs and a continued loss of full-time roles, both signs of a weakening labor market. With the Fed focused on seeing softness in the job market while inflation cools, this episode examines whether the latest data matches their outlook. If you’re looking for more clarity on the current economic landscape, this is the episode for you!

[00:00 - 02:20] - Breaking Down the September Jobs Report

[02:21 - 04:30] - Record High Multiple Job Holders

[04:31 - 06:05] - Loss of Full-Time Roles

[06:06 - 08:12] - Questionable Seasonal Adjustments

[08:13 - 10:00] - Conflicting Retail Employment Data

[10:01 - 12:10] - Jobs Report vs. Fed Policy Outlook

Key Quote:

"Over the last three months, we've lost close to 692,000 full time jobs. That's the same type of number that showed up in 2001, 2008, and also at COVID.” - Quinton Harris

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