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Ep. 169 - SHOCKING Jobs Report, Markets React Negatively & Rising Unemployment

In this episode, Quinton Harris analyzes the latest jobs report, which surprisingly showed 272,000 jobs created, far exceeding expectations. Quinton breaks down the numbers, discussing the potential impact on the Federal Reserve's decision-making process, the consequences for mortgage rates, and the concerning rise in unemployment to 4%.This episode is a must-listen for anyone interested in understanding the current economic landscape and how it affects their financial future.

 

Key Points:

  • This months report has an internal conflict, with employers reporting 272,000 new hires while
  • households reported having 408,000 fewer jobs.
  • The unemployment rate rose to 4.0%, the highest since November 2021 but still historically low.
  • Almost all the household survey's lost jobs came from the 20-24 age cohort.
  • Those age 25-54 showed small gains.
  • Average hourly earnings rose 0.4% for the month and are up 4.1% in the last year.
  • The prime age (25-54) participation rate rose to 83.6%, the highest in 22 years.
  • Job gains continue to be led by private education/healthcare, state and local government and leisure/hospitality.

 

Timestamps:

 

[00:00 - 01:36] - Introduction

[01:37 - 05:13] - Surprising Jobs Report Analysis

[05:14 - 07:16] - Unemployment Rises, Recession Concerns

[07:17 - 09:32] - Central Banks' Influence

[09:33 - 11:37] - Real Estate Market Stalls

[11:38 - 14:21] - Economy’s Trajectory Thoughts



Key Quote:
“The markets are moving in a negative way on this report.” - Quinton Harris

 

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